Daily Chart
Shooting star like candle formed which is bearish. Volumes were low. However managed to stay above breakout point of 5182.
Daily Line Chart
The rise may stall at the upper trendline of the rising wedge which is around 5400.With resistances at 5299-5330 as shown below.Double bottom target at 5354
Daily Chart
Half Hourly Chart
The negative divergences shown earlier still persist..The effect though looks like a sideways movement.
The startegy of staying long till the lower trendline of the rising wedge continues. However hedged longs will be sensible though it may diminish profits a little as the rise is hesitant.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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