Nifty trades flat today after Infosys results were not encouraging the market but balanced out by better IIP numbers. VWAP @ close is 4852. Nifty closes @ 4831. The 5-EMA//5-SMA @ close today has risen to 4813/4807.
1) The trading range remains 4810-4865-4910 with breakout above 4910 leading to 4980-5020 levels. The level of 4865 remains the level to go long.
2) Below 4810, Nifty could likely fall to 4765-4700. Whether the first superstitious "Friday, the 13th" date of 2012 works in favor of shorts or longs only tomorrow's closing figure will reveal. The week has been so far good for longs and has held and closed above the 5-EMA level throughout the last 4-5 trading sessions. However, the break out levels are 4910+ for longs and break down level is 4810 for shorts. Happy trading :)
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