Nifty opens gap down and fails to sustain above 5150 spot prices and cracks below the support levels of 5110-5070 easily to close below 5070. VWAP @ close is 5128. Nifty closes at 5068.
1) The negative bias from Friday persists and now the level of 5185 and above is the reversal level for Nifty. Tomorrow will be an interesting session of Nifty as the momentum of sell off is gathering pace now and below 5050, next support level is 5010 and 4965.
2) Short covering rally is hope for a small intra day reversal from the support level of 5010 towards 5090+. Happy trading :)
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