Weekly Chart
Daily Chart
Nifty is approaching a high resistance area and candles on the weekly - spinning top - and on the daily -small bodied candles after a bearish engulfing pattern on the 24th of June- point to hesitation by bulls to continue the upmove.
A close below 10194 will see more weakness.
Hourly Chart
The hourly chart favours the bears with a rising wedge.
Only a clear move above the resistance areas marked on the charts will
clear the way for an easy upmove.Till then caution to the Bulls.
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Happy Trading !!
Lakshmi Ramachandran
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