Nifty recovered all of its losses from the close of last week and staged a dramatic recovery from the few closes below 5300 this week to end the week up at 5470. Nifty closes the week with more than 100 points above its last week close. VWAP is 5430. Nifty closes at 5471.
1) Nifty above 5495 is good enough to once again test 5545-5585-5625.
2) Reversal for Monday will now be only below 5445 level for target of 5400-5370.
3) Nifty has closed not just above the 5-EMA average but also closed above all other short term EMAs. Happy weekend. Happy trading!
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