Nifty closes the week near the lows of the month @ 5750. VWAP @ close is 5773. Nifty begins the May series at near the lows of April and well below the 5-EMA level.
1) The 5-EMA level at close today is 5801. Nifty did recover from the lows to close above the 200-SMA level of 5746 today and trading above 5765 and crossing 5800 level with short covering rally can take Nifty up to 5825-5865 on Monday.
2) Now if support of 5725 is breached, then down side target will be 5680-5650 on spot prices.
3) The level of 5765 on spot prices is reversal point for Nifty on Monday. Happy trading! Happy weekend!
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