Nifty cracks further trading below 5-EMA level today and closing near the lows of the day @ 5786. VWAP @ close is 5818.
1) Reversal level for Nifty for intra day is 5826 and trading above 5840 for target of 5885-5920.
2) Below 5780-5790, Nifty should test 5735-5680.
3) The 5-DEMA level is 5835 now. With tomorrow being a holiday and one more holiday on April 14th, traders will not risk by taking long positions in the market and the cautious optimism continues ahead of the result season of the index heavy weight. Next week should see more action, volume wise, price wise. Happy Ram Navami! Happy trading!
No comments:
Post a Comment