The upward momentum continued today and Nifty closes above 5K mark today. VWAP @ close is 4977. Nifty closes at 5001.
1) Longs only above 5015 for targets of 5045-5090-5115 after the two day festival holiday break.
2) Below 4980, Nifty will again become weak.
3) An overall picture clearly shows Nifty is going up based mainly due to short covering rally and the median level of the projected September range a few days back is 5070 and this level needs to be crossed now with close above 5110. Happy Eid and Ganesh Chaturthi :) Happy trading :)
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