Daily Chart
Finally a bullish candle reiterating the fact that we are in a bullish trend. Daily emas are all bullishly aligned barring the 50/200 which is fast closing in to give the golden cross. A break of previous peak of 5342-5386 is required to speed up momentum.Chart below shows the down trendline joining the November 2010 highs with peak at 5630. Close above 5418 today would give a breakout above this trendline too.
A weekly close above 5268 would be bullish.
Daily Chart
Half Hourly Chart
Rising wedge maturing.Fall imminent unless the resistance line at 5357-5367 is taken out.Negative divergence persists on half hourly charts shown below.A pullback should hold the gap area 5149-5191 else weakness will come in.
Half Hourly Chart
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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