Nifty opens gap down and trades range bound with support at around 5150 levels and remained range bound amidst negative global cues. VWAP @ close is 5189. Nifty closes at 5169. Also the lesser than expected IIP numbers kept traders away from a largely lackluster day of trading with negative sentiment on the weekend.
1) Support levels below 5150 are 5110-5070-5030.
2) Below 5210 on closing basis, Nifty will be bearish in the immediate short term and the level of 5210 on spot price will be reversal level on Monday. Happy weekend! Happy trading :)
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