Nifty fails to sustain above 5150 levels in the morning trades with the flat opening and tanks below the support levels of 5135 and 5110 to test 5045 levels. VWAP @ close is 5096. Nifty closes @ 5059.
1) There has been no significant change from previous weekend close of 5040 with this weekend closing except that it has closed below the 5-EMA/SMA level of 5081.
2) Now 5110 remains as reversal level for Monday. Below a weekly close of 5110, Nifty could now likely test support levels of 4980 and 4935 with a gap down opening and make an U turn from these levels towards 5110+. Happy weekend. Happy trading :)
Thank you Sirjee!
ReplyDeleteHi RM:
ReplyDeleteWelcome RMji :)