Nifty trades in a range bound note and closes at 4710. VWAP @ close is 4735.
1) The week ends with the lowest weekly close of the year and bias remains bearish till Nifty does not now cross the fallen 5-EMA level of 4773 to close above 4830 and consolidate to cross 4870-4910 levels.
2) Below 4700, Nifty should test 4640 and below that 4590-4540.
3) Global cues and currency market point to a bearish scenario. Happy weekend. Happy trading :)
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