Nifty closes in the red after breaching the lower end of the narrowing trading range and the 5-EMA level of 5275. VWAP @ close is 5283. Nifty closes at 5221.
1) Reversal to bullish position will be only above 5265 when market opens after holiday tomorrow. Global cues are not supportive of bullish moves.
2) Below today's low of 5210, next support level is 5150 and 5110 on spot prices.
3) A gap down open on Friday can take Nifty to much lower support level of 5035 levels. Happy trading :)
No comments:
Post a Comment