Nifty consolidated around 6065-6085 levels throughout the morning session after touching a low of 6039 and recovered above 6085 in the afternoon to touch a high of 6128. VWAP is 6104 @ close. Nifty closes in the green @ 6121.
1) Bullish range for tomorrow is remaining above 6100 levels on intra day dips and decisive crossover above 6135 level for target of 6185-6220.
2) Reversal point is below 6085 for targets of 6020-5980-5940.
3) The rally today is primarily a short covering rally and only a close above 6200 levels will ensure this upward momentum continues. Tomorrow's trading is very crucial for this week for the climb above 6200 and towards 6300+ by this weekend.
4) A highly volatile range would be 5980-6200 otherwise for this week with 6085-6135 being the fulcrum levels for upside or downside.
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