Half Hourly Chart
- Bearish candle taking support on the 50 dema and the downtrendline joining tops of Jan 2008 and 2010.
- Falling wedge on daily charts which is bullish.
- Daily oscillators weak, Rsi 14 below 50 level and stochastics in oversold area.
- Half hourly charts show movement in a steep down trending channel .
- Positive divergence seen in half hourly oscillators.
Resistance at 5230 and support at 5139.
The short term trend is down and one should look to go short on rallies till 5400 is taken out.
Happy Trading !!