Another quiet and flat day of trade with a lower closing value from yesterday but without breaking the 5-EMA level of 5861. VWAP @ close is 5903. Nifty closes at 5886.
1) Nifty has held on to the 5865 support level of yesterday today also and traded flat. Now 5-EMA has risen to 5869 at EOD today and it will be sell mode if Nifty closes the week below 5868 tomorrow. Above 5910, 5950-6020 still remain the target for going long.
2) Below 5865, Nifty should fall to 5790-5735 as now the 5-DEMA level is 5869 and breach of this level will invite short sellers into the market with fresh positions.
3) The fertilizer stocks and real estate stocks like DLF and Unitech has seen lot of action today and needs to be watched over the next few trading days. Happy trading!
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