Nifty does not cross the 5-DEMA/5-DSMA level today and fails to sustain above 5830 level and takes support at the lower end below 5750. VWAP @ close is 5798. Nifty closes at 5752.
1) The market has not received QE-3 Infy earnings estimates well and by tomorrow a direction the market will indicate after trading within yesterday's high and low values today. The level of 5790 will be reversal area for intra day tomorrow.
2) Below 5700 once again indicates bearishness, and Nifty will likely veer towards 5632-5555 levels.
3) No intra day longs until and unless 5-DEMA/5-DSMA (5832/5807 for tomorrow) levels are not decisively crossed. Tomorrow is weekend and a close below 5750 will be bearish and a close above 5860 will keep longs interested. Happy trading!
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