A quiet range bound weekend Friday trading and the week ends with Nifty closing @ 5826 and trading within yesterday's range. VWAP @ close is 5858.
1) For Monday, the level of 5835 must be held throughout the day for any substantial move towards targets of 5825-5965. This scenario could play out with a gap up opening above today's high of 5860 and sustaining above this level.
2) Below 5835, the level of 5790-5750 will be the likely support areas for intra day.
3) The 5-EMA level @ EOD today is 5764. Amongst the few stocks mentioned yesterday Reliance Capital has taken off and ends the day today with 5% gain. Happy weekend! Happy trading!
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