Nifty trades in green in the morning session above 5720 and after registering high of 5747 struggles to remain above the 5-DEMA/5-DSMA level of 5730 and falls to below support level of 5662 and recovers towards close to close @ 5691. VWAP @ close is 5710.
1) Nifty struggles to remain above 5-DEMA level today and this level was 5730 today. Longs only above 5735 with break down level being 5698 for tomorrow for target of 5750-5775-5800. The 5-DEMA level is 5717 today @ close.
2) Nifty has taken support at the 200-EMA level of 5648 over the past three sessions and break of this level will give the levels of 5610-5575-5555.
3) The volatility is giving good long and short scalping intra day trades if the important levels are followed. The overall bias is negative as long as Nifty trades below 5750 levels short term. Happy trading!
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