Directionless market and weak below 5110 and closes above support level of 5045 level. VWAP is 5093. Nifty closes at 5050.
1) For Monday, now the level of 5070 will become reversal level for initiating intra day longs for target of 5110 and 5150. However, 5110 is a level that will now face resistance.
2) Below 5045, the support levels of 4995-4935 will be tested.
3) The October series expires on Tuesday 25th October and the narrowing trading range (5045-5130) break out should now happen above 5130 or below 5045 for this series. Happy trading :) Happy weekend :)
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