Half Hourly Chart
The Nifty is still hovering within the white candle range of 5266-5367.A black candle , a small bodied candle and a perfect doji of which the last two have returned into the rising channel indicating false breakout. The breakout from the red downtrendline is however maintained.
Volumes were good but heavier in the declining stocks.Breadth though positive was almost 1:1.
The half hourly chart shows the tussle between the bulls and bears more clearly. A breakout from the consolidation and then back into the flag and finally a breakout again !
The sideways move correcting the steep rise is difficult to trade as all ranges are. Only a move above 5367 or below 5266 will give sense of direction.
Supports are at 5284-5270-5246-5206.
Resistance is at 5350-5367-5400.
Happy Trading !!