Nifty ends the week on a positive note with the targeted close of above 5020 levels. VWAP @ close is 5038. Nifty closes at 5048.60.
1) Above 5055, Nifty is on its way to 5110-5175-5230. Reversal level will be below 5000 levels on Monday.
2) Nifty has closed above 5-EMA/5-SMA levels for 15 consecutive sessions now.
3) The results of RIL today evening will have a big impact in this unexpected bullish journey of Nifty further, followed by RBI policy a couple of days later. Nifty will become weak below 5000 in case of any negative surprises from the result desk. Next big stock to watch in the index with their results is ICICI bank which gained good momentum today and looking good to touch 900+ sooner than later. Happy weekend. Happy trading :)
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