Nifty remains below today's reversal level of 5725 and tests new low of 5555. VWAP @ close is 5641. Nifty closes @ 5565.
1) Now trend is down especially with Bank Nifty falling after the market has not welcomed the RBI monetary policy today. Below 5555, 5520-5480 are next support levels.
2) Some value buying might emerge at the level of 5480-5520 if further down side is there or above 5610 with short covering rally Nifty could recover up to 5650 levels.
3) The 5-EMA level at today's close is 5700. Happy trading!
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