Nifty moves as expected after the GDP numbers released kept market buoyant intra day today to touch 5571 spot high and close at 5560. VWAP @ close is 5523.
1) Now Nifty needs to go towards higher levels of 5610-5630-5665. Reversal will be below 5540 levels.
2) Below 5540 levels, 5500-5470 comes in to play.
3) The June series has begun on a positive note and Nifty has closed above the 5-EMA level for the fourth consecutive day. The monthly close for May 2011 is also good above the level of 5555. Happy trading!
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