Nifty opens gap down and trades in negative territory and breaks the crucial 5480 level to test support at 5445 and below. Nifty closes below 5480 and is weak now at 5447 close. VWAP @ close is 5470.
1) Reversal level for tomorrow will be above 5490+ with gap up opening. Target on higher side will be 5525-5550-5575-5600.
2) Below 5445, Nifty can fall to 5400-5370.
3) The 5-EMA level at close today is 5484. The RBI policy announcement is the likely trigger for tomorrow's trading range above 5490 or below 5445. Happy trading!
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