Nifty opens gap up to find selling pressure at highs and below 5110 level traded mostly in a small band of 5070-5100 range to close flat near the lows of the day @ 5078. VWAP @ close is 5100.
1) Nifty is trading above all short term EMAs and SMAs and bias can be termed as still up above 5055.
2) Nifty needs to trade above 5110 level to move towards a strong close of 5180+ tomorrow on the weekend.
3) Below 5055, levels of 5000 and 4950 will be support levels. Happy trading :)
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