Nifty trades in a very narrow range for one more session this week and has support at 5510 but resisted at 5535. Volumes are obviously a concern now. VWAP @ close is 5518. Nifty closes at 5521 spot price.
1) The views remain unchanged with longs only above 5555 and the 5-EMA level @EOD today of 5529 will be the important level above which Nifty must trade. Targets on upside above 5555 are 5595-5620.
2) Below 5530, Nifty can fall fast towards 5450 levels. Tomorrow is the last day of trading this week, and a break out either above 5555 or break down below 5500 could be reserved for this Friday. Happy trading!
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