Nifty falls to 5600 levels and trading at important support level of 5610 ahead of the expected big results. VWAP @ close is 5632. Nifty closes at 5616.
1) Nifty needs to trade above 5665 for the bullish view to hold for targets of 5700-5745-5800. As mentioned in weekly update the results of the big heavyweights in index holds the key.
2) Below 5600, levels to watch 5550-5480.
3) Nifty has closed below the 5-EMA level today and the bias is negative as long as it trades below the 5-EMA level of 5642. Happy trading :)
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