Nifty takes support at 5250 and moves up towards the 5-EMA level and closes above it in spite of resistance around this level in the last two hours of trading. VWAP @ close is 5306.
1) Nifty above 5-EMA level of 5318 should aim to touch 5380-5440.
2) Below 5285, Nifty will become weak and should fall below 5250-5200.
3) The 5-EMA level is 5319 at EOD today and Nifty has closed just above it. Happy trading!
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