Daily Chart
Half Hourly Chart
A sideways movement within yesterday's range forming and Inside day on low volumes. Positive divergence spotted on half hourly charts which I had pointed out on the discussion forum . The divergences are intact.Yesterday's lows were not even visited which is a positive and yesterday's highs were not taken out which is indecisive action. The fall from 5181 is in a channel with resistance at 4985 and support at 4882. Scaling the high of last two days around 4998 will be the first step in the right direction for the bulls.
Fibinacci resistances of fall from 5182-4944 are 5003-5035-5062-5090
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
2 comments:
Dear Lakshmi,
Excellent analysis.
Regards,
Lee
Leeds,UK
Perfect levels.
Thanks and Regards.
ttthakur
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