Half Hourly Chart
- Huge bullish candle on average volumes and extremely good breadth.
- Negative divergence continues on daily oscillators.
- Half hourly oscillators have reached over bought zone.
- Strong resistance at 5385 as shown on daily and half hourly charts.
Yesterday I mentioned, A test of the recent top of 5330 is possible due to improving technicals in the very short term. Breadth improved considerably on the last trading day.Crossing 5330 could lead to further upside, levels marked on charts.
Nifty hesitated at 5330 for sometime but once that level was crossed, it was cakewalk. Strong resistance at 5385 needs to be crossed to achieve targets shown on weekly charts of 5428-5447.
Stop loss for longs now at 5235.
Happy Trading !!