Gap up opening and Nifty traded in bullish zone but failed to consolidate above 6018 level and after 2 pm fell to 5958 and remaining in a no-trade zone without direction through the last one hour and 5965 level has provided support today afternoon. VWAP @ close is 6013. Nifty closes @ 5984.
1) Nifty needs to trade above 6000 and consolidate above 6018 for moving up further for targets of 6050-6085-6135. Resistance of 6018-6030 levels need to be overcome. Volumes are low.
2) Trading below 5965 will set Nifty for a move down towards 5900-5850-5750 once again.
3) With closing of Nifty above all EMA levels and above 5965 level today, bias is still positive and the levels need to be watched carefully - 5965 & 6018. Happy trading!
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