Gap down opening and Nifty traded below the 5-DEMA/5-DSMA levels for most part and fell to 6062 in the afternoon. VWAP @ close is 6120. Nifty closes @ 6080.
1) Nifty will be bearish below 6085 and next support level of 6040-5965 could be tested if Nifty trades below 6085 tomorrow and now should consolidate at lower levels between 6000-6085.
2) Nifty will become positive only with a close above 6175 now with reversal level being above 6135 if 6085 holds over the next two sessions.
3) The closing 5-DEMA/5-SMA levels for tomorrow are 6104/6124. Trading above these levels and crossing 6135 will be reversal points tomorrow to come back into bullish range. Happy trading!
No comments:
Post a Comment