Nifty does exact reverse of yesterday's trade and the entire range of 5555-5650 of this week got traded today in reverse direction as seen in the chart. VWAP @ close is 5601. Nifty closes at 5567.
1) The high end support at 5595 and lower end support of 5555 has been the trading range for past 5 consecutive days. The range extension of these two levels should happen over this weekend given the time spent by the index at these levels now and also having attempted to cross on the higher side now once again.
2) Reversal level remains 5595 and below 5555, we could see 5490-5430.
3) Above 5595, 5620-5665 remains the levels to be traded. Happy trading!
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