Daily Chart
Half Hourly Chart
A bullish monthly and quarterly closing above the 61.8% retracement level of the fall from all time highs .The monthly stochastics has reached extreme overbought levels indicating that a correction is due.
The day's candle was a huge bullish one with little lower and upper shadow indicating domination by bulls without any resistance by the bears. I have redrawn the lower red dashed trendline to show a rising channel from the earlier rising wedge.
The daily and intraday oscillators oscillators are once again reaching overbought zone.
The resistances are at 5170-5195 and supports at 5000. Intraday supports and resistance are shown on the charts.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
No comments:
Post a Comment