The good GDP numbers lifted the sentiments of the market and after trading range bound between 5775-5810, Nifty took off after testing the low of 5768 and surpassed the reversal level of 5845 and made a high of 5892. VWAP @ close is 5848. Nifty closes @ 5863.
1) Tomorrow for intra day, the level of 5885 is very important. Nifty needs to trade above this level and close above 5965 levels. The 55-DEMA is 5950 now and crossing 5950 will bring in fresh buyers and Nifty will make an attempt to go higher above 6020-6085 levels. The bullish trading zone for tomorrow will be 5850-5885-5935-5965-6020.
2) Break of 5850, will be a sign of weakness and Nifty will again retest 5820-5750 levels on the downside. Happy trading!
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