Daily Line Chart
OBV, the one indicator which was holding above the trendline from March lows has finally broken down.Now we have one more evidence of bearishness.
Half Hourly Chart
Half Hourly chart shows how one bearish pattern after the other is appearing.
The next support is at 61.8% fibo level at 4950 of rise from 4807 though broken briefly today. The 38.2% fibo level of rise from 4538 is at 4935. The double top target is at 4924.
The 4925 to 4950 level has strong supports. Watch out for a pullback from these levels.However a break from these levels would lead to a test of 4806 low with a strong support at 4820 from the trendline joining lows of 3918 and 4538 , shown on weekly charts.
Happy Trading !!