Nifty is back to the levels it was 30 sessions back once it traded below the all important support level of 5555. VWAP at close is 5496. Nifty closes at 5459.
1) This is the 7th consecutive session closing below 5-EMA level and also the crucial support level of 5555, Nifty looks set to correct further if it does not close above 5610 in the next two to three trading sessions.
2) Below today's low of 5443, Nifty could test 5390-5350.
3) Nifty is trading below all EMAs/SMAs and technical levels need to catch up with the Nifty levels over the next couple of sessions. Happy trading!
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