Half Hourly Chart
Bearish engulfing pattern and negative divergence on Rsi14,Macd and OBV on daily charts suggest further fall.Any rise will face strong resistance at the 5342-5378 levels which has been difficult for the Nifty to cross as shown on the daily charts.
The support at the gap made on the way up at 5267-5216, the 50% Fibonacci level at 5271,61.8% level at 5245 and daily uptrendline support at 5272 should hold well.Only a break below these levels will ring alarm bells of a reversal of the existing bullishness.
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