Nifty trades in positive territory throughout morning session making new high of 5099 for this move up and closes at 5062 for the day. VWAP is 5104.
1) The bias is still up but trading above 5100 only will bring in fresh buyers and the move up seems to be taking a pause in search of a reasonable bottom now.
2) Level of 5000 remains the reversal level with long positions intraday only above 5065 spot price for targets of 5110-5135.
3)Below 5000 support level, the next support levels remain 4935-4865. Happy trading :)
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