Nifty trades in a very narrow range around 5-DEMA/SMA levels and never broke out on either side of 6011 or the low of 5982. Volumes are very low and no major moves can be expected till expiry day primarily due to low volumes. VWAP @ close is 6013. Nifty closes flat once again above 5-DEMA/SMA level @ 5996.
1) View for tomorrow remain same as that for today, longs only above 6018 for targets of 6085-6120. Strict stop loss will be 6007 for intra day longs on spot values.
2) With just two sessions left for December series expiry and lack of volumes, trading in the next two days will be dull unless Nifty closes above 6085 on upside with volumes or below 5965 on the downside. Till then trading range likely to be 5940-5965-6018-6050. Happy trading!
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