Nifty had a range bound session and trying to consolidate around the 5336 levels which is the 200-EMA level. VWAP @ close is 5353. Nifty closes at 5327.
1) Now Nifty will aim to close above the 200-EMA/SMA level (5336/5407) and a couple of sessions could be range bound. Target above 5345 will be 5410-5450 for intra day tomorrow. Reversal level will be 5320.
2) Below 5320, Nifty will attempt to fill the gap up opening and fall towards 5270-5210.
3) Volatility has eased considerably and intra day moves will be best for scalping 15-20 points only above 5345-5365 levels. Happy trading :)
Thanks Vinod!
ReplyDelete