Nifty downtrend continues unabated after the break of 5448 levels yesterday. VWAP @ close is 5384. Nifty closes the week @ 5366.
1) The support levels below 5355 is now 5325-5290. Reversal level will be 5415.
2) Above 5415, Nifty could cross 5450-5490. A close above 5480 restores hope for positional longs now.
3) The zone of 5350-5385 are very crucial levels of support for the market and break of this level could ultimately set up Nifty for a fast slide to as low as 5110 levels below 5250.
4) The second chart shows the level of 5385 as crucial support zone on the daily charts from a longer time frame perspective. Happy weekend! Happy trading!
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