Half Hourly Chart
Today's candle is a shooting star on high volumes. This is a reversal pattern, depicting that the highs were unsustainable. Confirmation of reversal will come from tomorrow's candle. Unless the highs of the candle is crossed we may expect a downward trending market.
Volumes were high Advance decline negative, and daily oscillators in overbought region with negative divergence. Intraday oscillators have moved down after showing negative divergence.nifty may test the uptrendline from March lows which has support at 4728.
Supports at 4783-4728-4580. Resistance at 5003-5103.
Happy Trading !!