What a month it was, one of the most volatile in recent times, though the range was just 318.50 from 5910.95 - 6229.45, but had many 100 pointer days. The Index ultimately closed at 5985.95 nearer to the lower range.
The Monthly Spot Values are: VAH-6167, POC-6079, VAL-5991 and Monthly VWAP at 6065
Nifty has closed below MVAL, which is very weak and remaining below it can seek the next support level around 5853, with a minor support at 5929. Below 5853, the Bullish trend will go for a toss and we can see 5750, 5685.
Two daily close above 5991 can bring in POC at 6079 and VAH at 6167.
Based on the above, it’s a Sell on rise till MPOC is not captured on closing basis.
Shorts can shift SL to VAL at 5991 on closing basis
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