Huge bearish candle closing much below the 200 dema. 5503 as shown on weekly charts in post of 2nd May should hold to prvent a bloodbath. If breaks then supports are at 5478-5428-5348.
Half Hourly Chart
Support taken at the 161.8% level as shown on the half hourly chart. Supports at 5490-5500. If breaks then 5348-5335 should be supports. Oscillators in oversold zone but no positive divergences spotted. This strengthens the view that momentum is towards a downtrend.
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