The downside momentum gets impetus with poor results of SBI and Nifty closes near the lows of the day @ 5439. VWAP @ close is 5464.
1) The bias continues to be negative, firstly trading below 5-EMA technically and the poor results of index heavy weight SBI. Nifty below 5460, should test 5390-5340. Reversal will be only above 5490.
2) The 5-EMA level has now fallen to 5496 and Nifty can be expected to gain momentum tomorrow only above this level. Happy trading!
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