The Nifty had two choices yesterday - to breakout of 5169 or make a U turn to go down again and Nifty chose to make the U turn. The gao down below the 50 dema is surely bearish and a retest of the 4720 lows seems to be the next step.Unless the Nifty wants to surprise us this time otherwise !
The sideways action has made me lazy. Have been usign the same half hourly chart since about 2 months !
Half Hourly Chart
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Happy Trading !!