Gap up opening and then fails to go past the high end of the range of past two weeks of 5150+. VWAP @ close is 5134. Nifty closes 5098.
1) The break out above 5150 only can now take Nifty higher on positional basis. For tomorrow 5110, level remains the reversal level once again.
2) Below 5070, levels of 5045-4995 will come into play.
3) Nifty close has been neutral ahead of the RBI policy announcement tomorrow and with the October series closing tomorrow due to festival holiday on Thursday could be volatile with wild swings either side of 5110. However, it must be kept in mind the volatility index has eased up a bit from last week. Happy trading :)
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