Nifty trades range bound today with support at 5624 and below 5700 today. VWAP @ close is 5663. Nifty closes @ 5662.
1) Important levels to watch tomorrow is Nifty crossing above 5710 and a short covering rally can be expected up to 5760-5790.
2) If negativity persists, then below 5643, Nifty can likely fall to 5606-5580-5555 levels and some upside from 5555 levels can be expected.
3) A close below 5555, will make Nifty highly bearish for the medium term for a possible target of 5030. The level of 5555 should provide some support for a bounce back to 5750-5800 levels in the short term. Happy trading!
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