A range bound weekend closing revolving either side of the pivot point. VWAP @ close is 5696. Nifty closes @ 5696.
1) Views for Monday remain same, longs only @ 5725-5735 levels (above 5-DEMA levels of 5709 at today's close) for targets of 5780-5850. Strict stop loss of 5670.
2) Below 5670, Nifty will become bearish and fall below 200-DEMA level of 5650 to test 5600-5555.
3) This week has largely been consolidation around the 200-DEMA level of 5650 and Nifty closes exactly at the 5-DSMA level of 5696. Next week is January series expiry week and lot of volatility can be expected on either side of 5725 and 5670 levels. Happy weekend! Happy trading!
No comments:
Post a Comment