Nifty opens in the red marginally but recovers to get the highest close in the last 10 sessions @ 4874. VWAP @ close is 4863.
1) Nifty trades range bound once again and holding onto the gains it has made in the last 10 sessions and getting the highest close of this month. Views remain same for long above 4900 for target of 4980-5025.
2) Support at 4830 has held today and recovery took place and now below this level 4800 and 4765 are the next major support levels.
3) The 5-EMA/SMA levels have now risen to 4845/4857 levels @ close today and this level must be kept in mind as Nifty will be weak below this level itself. Happy trading :)
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