The week begins on a highly volatile note and Nifty slides below crucial level of 5385 to below 5200 in the first hour of trade itself. VWAP @ close is 5277. Nifty closes at 5258.
1) Nifty is trading well below all the technical levels and now the Nifty waves needs to settle into a stable technical pattern.
2) Below 5250, the level of 5110 will come into play.
3) Above 5335, Nifty should attempt to touch 5435. Volatility has increased and being on the right side of volatility is good for intra day purposes. Trade safely with deeper stop losses. Happy trading!
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