Range bound session without volatility and Nifty trades between today's morning high and yesterday's low without any clear direction. VWAP @ close is 5996. Nifty closes @ 5980.
1) Tomorrow is an important session and weekend close above 6085 would be bullish. Short term support of 5965 has held well over the past three trading sessions.
2) Gap up opening scenario is possible tomorrow and Nifty could take off from the opening itself as 5965 has held well over the past 3 sessions.
3) Another possible scenario is Nifty has a flat weekend close tomorrow and next week only it will take direction after X-mas weekend based on global cues.
4) Trading below 5965 for more than an hour with a gap down opening will take Nifty towards next important support level of 5850.
5) Nifty is trading above all EMAs. Happy trading!
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