Nifty breaks 5-EMA level and followed by negative news about index heavy weight RIL, Nifty cracked below 5400 and closes @ support level of 5373. VWAP @ close is 5416.
1) For Monday, the bias is negative and Nifty below 5365 should find support at 5300 or 5230 level over the next couple of trading sessions.
2) Bullish sentiment should return only if Nifty manages to close above the 5-EMA/5-SMA level of 5443/5463. Happy weekend. Happy trading!
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