The momentum of the Friday close at 5-DEMA level carried on today and Nifty never looked back upon opening today and Nifty crossed the all important level of 5460 towards close of day . VWAP @ close is 5411. Nifty closes at 5455.
1) Nifty sustaining above 5465 only will be strong intra day for targets 5555-5665 levels. Trailing stop loss for longs is 5430.
2) Fall below 5430 will be bearish intra day for target of 5390-5350. The 5-DEMA level at close today is 5360. Next important level on upside are 5510 and 5612 levels (21-DEMA/34DEMA)
3) A close above 5555 would make Nifty short term bullish this week. Happy trading!
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