Gap up opening without much upside above 5555 levels and some consolidation around 5520 levels. VWAP @ close is 5528. Nifty closes at 5531.
1) Nifty has closed above 5-DEMA for second consecutive day and tomorrow either side it could move above or below 5500-5520 levels. A gap up opening above 5555 could like take Nifty above 5600.
2) Gap down opening below 5500, could once again make Nifty test lower levels of 5400.
3) The 5-DEMA/5-SMA is 5503/5518. The volatility has been under control over the past two sessions. Increase in volumes will take it either way. As of now, stability seems to be there for the short term as long as Nifty trades above 5480-5500 zone. Happy trading!
1) Nifty has closed above 5-DEMA for second consecutive day and tomorrow either side it could move above or below 5500-5520 levels. A gap up opening above 5555 could like take Nifty above 5600.
2) Gap down opening below 5500, could once again make Nifty test lower levels of 5400.
3) The 5-DEMA/5-SMA is 5503/5518. The volatility has been under control over the past two sessions. Increase in volumes will take it either way. As of now, stability seems to be there for the short term as long as Nifty trades above 5480-5500 zone. Happy trading!
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