Daily Chart
The bullish hammer of yesterday was followed up by a huge bullish candle . This makes the low of the hammer at 5348, which was strong support already, a really strong support to contend with. Breadth was positive but volumes were low. The 61.8% fibo level was crossed intraday but the close was just below it.The close was above the 5,10 and 20 demas.
Only a decisive break below 5348 will weaken the uptrend . Till then it would be risky to short.
Supports at 5450-5429-5414 and Resistance at 5478-5495-5513.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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