Nifty opens gap up and later closes the gap and trades range bound between 5240-5280 to close at 5270. VWAP @ close is 5274.
1) Longs above 5295 only for targets of 5320-5355-5390. Reversal level will be 5220.
2) Below 5220, Nifty has support at 5-EMA/SMA level of 5204/5198.
3) A weekly close above 5315 is bullish short term and a close below 5200 is bearish short term. Happy trading :)
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