The uptrend of Nifty continued today above the level of 5680 to touch a high of 5770 and closes @ 5736. VWAP @ close is 5750.
1) After the continuous rise over the past 5 sessions, a consolidation phase can be expected and Nifty should trade range bound between 5735-5800 now if the bullish momentum shows continuity.
2) Break of 5735, brings into play the level of 5680-5630.
3) The 5-DEMA level at close today is 5633. It is certainly a buy on dips market around 5650 levels for a target of 5825-5925 positionally for the April series. There are just two trading sessions left for the March series to expire and these sessions will be highly volatile. Happy trading!
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