Nifty opens gap up but fails to cross the 200-SMA level of 5744 and trades range bound most of the day between 5690-5725 to fall further in last hour to close at near the lows of the day @ 5661. VWAP @ close is 5711.
1) Reversal level for Monday is 5690+ level for target of 5730-5770.
2) Below 5665, levels to watch are 5600-5575.
3) The 5-EMA/SMA level is 5655/5659 at close today and Nifty spot has closed just above both these levels. Happy weekend! Happy trading:)
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