A highly volatile session of trade with Nifty keeping afloat above 5555 levels to test 5650 levels and falls dramatically to below 5600 level. VWAP @ close is 5604. Nifty closes at 5600.
1) Nifty has closed above the 5-EMA level today, but volatility has been high at higher levels and indecision persists with the quarterly earnings and inflation data and industrial production data keeping the market makers guessing and favoring only those on the right side of volatility.
2) 5555 remains the reversal level now for tomorrow and below 5555, Nifty can fall to 5470-5450-5400 levels.
3) The 5-EMA level at close today is 5598. Happy trading!
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