Nifty closes above crucial support level of 5365 @ 5382 after weak IIP data numbers brought in some mild selling pressure/weakness but Nifty managed to trade within yesterday's range. Today's chart is one of the most rare symmetrical patterns seen price wise, time wise. VWAP @ close is 5399.
1) Bullish views remain intact for targets of 5450-5500-5555 on spot prices as long as Nifty closes above 5365 spot price.
2) Below 5340, Nifty could likely fall fast towards 5280-5220 levels. Happy weekend. Happy trading :)
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