Nifty opens gap down below 5-EMA and trades below 5560 for most part of the day before cracking after 1 pm to fall to 5476 and close @ 5486. VWAP @ close is 5518.
1) With break of 5510, Nifty is headed lower towards 5440-5340 levels.
2) Reversal will now be only above 5565 levels.
3) Intra day reversal can happen above 5525 with short covering rally if the level of 5450 is held on downside. Happy trading!
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