A range bound trading day with low volatility and low volumes in the Jan series expiry week. Nifty closes above the 5-DEMA level of 5720. VWAP @ close is 5732. Nifty closes @ 5743.
1) Level to watch tomorrow is Nifty going long above 5757 and sustaining above 5770 for target of 5780-5820-5855. Reversal will be below 5715.
2) Below 5715, Nifty can drop to 5690-5630 levels.
3) Nifty has held the 5-DEMA level of 5720 quite well today and closing above 5-DEMA will give some more upside up to 5820-5865 in the coming two or three sessions if hurdle at 5770-5790 is crossed. Volumes are low and overall trend will be side ways till Nifty does not cross 5865 on closing basis. Happy trading!
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