Nifty opens at 5-EMA level of 5786 gap up and sustains above it for a major portion of the day and closes near day high @ 5852. VWAP @ close is 5824.
1) Nifty needs to trade above 5825 consistently tomorrow for attempting to reach target of 5885-5925. So, the level of 5825 kind be used as a reversal level for intra day to exit long positions.
2) Below 5820, Nifty will be weak and can slide to touch 5770-5730 once again.
3) The 5-EMA has risen to 5808 now at EOD today. Happy trading!
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