Another range bound day with weak global cues keeps Nifty in a strict trading range. Nifty however managed to get intra day support at the levels of 5515. VWAP @ close is 5528. Nifty closes at 5527.
1) Close is below the 5-EMA level today and view for tomorrow remains same as yesterday if Nifty trades above 5555 levels for targets of 5590-5620.
2) Failure to sustain above 5530, can lead Nifty to fall below 5500 to 5480 and below that 5450.
3) The closing 5-EMA level is 5534 at EOD today and trading above this level in morning session only will give lead to upside. Happy trading!
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