Market makes a good recovery after testing the 6250 levels in the morning session to cross past 6300 once again. VWAP @ close is 6306. Nifty closes @ 6301. The last two trading sessions were consolidation days around the levels of 6285 and technical levels look much more stronger now.
1) View remains unchanged and the 6285 level is the important fulcrum for this week and provided good trades long and short intra day today. The next level to watch will be how Nifty reacts above 6357 levels.
2) Gap up opening with upper targets will be 6340-6380-6400-6435.
3) Any break down below 6285 is trigger to short intra day and deeper falls below 6250 means 6190-6150. The 5-SMA today @ close is 6266 and has moved up above 5-DEMA (6257). Happy trading!
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