The downtrend continues with some buying seen towards end of the day today mainly with short covering rally to close with a high premium in futures price. Nifty spot closes at @ 5405. VWAP at close is 5412.
1) Some short covering rally above 5425-5440 spot price can be expected tomorrow as Nifty is in oversold zone and a bounce is expected. Reversal level is 5425 spot price levels.
2) Break of 5380 has happened today and below today's low of 5378, next support levels are 5350-5310-5270. Happy trading :)
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