A good opening just below 5-EMA but sustained buying in early morning trades helps Nifty to remain above 5-EMA level and close @ 5480. VWAP @ close is 5478.
1) A steady trading day without hiccups above 5-EMA/5-SMA levels to get back into the zone of 5465-5480.
2) Tomorrow, this positive momentum will continue only if Nifty moves to trade above 5500 on spot prices and with more buying should cross 5565-5620 in a few sessions. Stop loss or reversal level will be 5465 for intra day players.
3) Below, 5465, the levels of 5400-5365 will again be tested for buying support.
4) The 5-EMA level at close is 5437 and Nifty has closed well above this level today. Happy trading!
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