Nifty still in negative mode after gap up opening but failing to surpass 5490 levels and testing lows towards end of day and closes on a flat note. VWAP @ close is 5472. Nifty closes at 5432.
1) Below 5480, Nifty is bearish for target of 5380-5350-5310 levels.
2) Strength only above 5480 with volumes should take to 5530-5590-5620.
3) It appears a one way move up or down possible this weekend with a weekly close above 5590 or below 5310 on Friday. Happy trading!
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