Half Hourly Chart
- Sideways movement in a tight range of 4814-4950 since last three trading sessions.
- Breakdown from bear flag .
- Half hourly oscillators weak and already moved below previous low.Corresponding low of Nifty at 4814.
- Daily oscillators too are very weak.
- Volumes on the fall were extreemly low.
- Low of 4766 held for the fourth day in a row.
Market is in a sideways mode. Pullbacks lack strengthand fizzled out very quickly. We have not been able to break out of the Inside day pattern's range of 4814-4950. Till that happens expect a yo-yo experience.
The trend as per daily charts is down but the weekly charts are yet to signal a sell. One should be cautious on longs as well as shorts.
A weekly close above 4795 could keep hopes of some upside alive for the next week.
Happy Trading !!