Nifty steadily climbing up towards 5555 levels today intra day once support @ 5465 level held and later traded above 5500. VWAP @ close is 5514. Nifty closes at 5546.
1) Tomorrow is the weekend and Nifty trading above 5515 levels should make it attempt go higher towards 5630 levels (200-DEMA level). So, bullish range will be 5515-5575-5630+ levels.
2) Below 5515, Nifty could fall to 5460-5400 levels. The 5-DEMA level has risen to 5467 level and this level is the trailing stop loss for positional longs now. Some profit booking by positional longs can be expected tomorrow on the week end and a close above 5580/5600 would be bullish for the next week.
3) The market seems to be gearing up for the budget with a close around or above the 200-DEMA levels and the range till then could be 5400-5650 levels. Happy trading!
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