Gap down opening on weak global cues and Nifty recovers from day's low of 5373 to close at 5450 after touching high of 5498 (below 5-EMA of 5499). VWAP @ close is 5441. Nifty closes at 5450.
1) Nifty has done well despite the weak global cues to hang on to the 5465-5480 levels. Today RIL supported the index to remain in this crucial range of 5465 and above, which is the level to watch tomorrow.
2) The bias is negative now with close below 5-EMA levels and the next levels down side will be 5365-5280 levels.
3) The 5-EMA at close today has now fallen to 5482 once again. Happy trading!
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