Nifty moves range bound today mostly below 5555 levels in rhythmic fashion as depicted in the chart and a day when intra day trade was not possible even for scalping without a clear cut direction. VWAP @ close is 5555. Nifty closes at 5550.
1) The level of 5555 remains as reversal point and being long is best option above 5555 only for targets of 5580-5610-5665.
2) Below 5520, Nifty can crack to 5500-5480.
3) The 5-EMA has risen to 5529 @ EOD today and below this level would be a good shorting opportunity for intra day targets of 5500-5480. Happy trading!
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