Nifty continues to march ahead on break of 5650 spot levels and touches high of 5700 on spot price. The level of 5665 is VWAP @ close. Nifty is trading above all short-term and long term EMAs. Nifty closes @5680.
1) Bullish zone for tomorrow will be 5705 and above only for target of 5730-5770.
2) Below 5650 will be reversal level now and below this level 5600-5500 can be seen.
3) With three more sessions to go for expiry of July series and results of two index heavy weights RIL and ICICI Bank lined up along with RBI policy announcement tomorrow, volatility swings will be there on either side of 5705 levels on spot prices. The market looks positive about the events lined up beginning within the next few hours. Happy trading :)
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