Nifty goes into the long weekend on a flat note, closing well above the 5-EMA level and having formed support at 5265 levels. VWAP @ close is 5323. Nifty closes at 5284.
1) Views remain same for the coming week with longs now only above 5295 for targets of 5400-5450. Reversal level remains 5265 level. The 5-EMA level is 5267 and 5-SMA level is 5278 and Nifty has closed above both these levels.
2) Below 5265, levels of 5200-5150 likely.
3) Next week has only three trading sessions with two holidays (Nov 7th and Nov 10th) and gap up and gap down openings likely to be the trend on trading days. Happy weekend :) Happy trading :)
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