Half Hourly Chart
The Inside day range was left untouched, forming a small bodied candle on very low volumes . Breadth was marginally positive. The up trending channel shown on the daily charts has been broken once again increasing chances of a top having been formed at 5400. On half hourly charts too the triangle was broken on the downside.
Oscillators on half hourly charts are in neutral territory and not showing much strength.Daily oscillators are moving lower after showing negative divergence.Macd has given a sell. The Nifty has taken support twice at the 5325 level today. Expect weakness only below this level.
One may be cautiously long on the markets as the trend still remains up though signs of tiring are showing up.Weekly charts show resistance at 5458. Stop loss to continue at 5290.
Happy Trading !!