The Nifty made a shooting star which is bearish. Daily oscillators have started showing negative divergences. The intraday breakout from the range of 5932-6037 could not sustain but the sell off was very hesitant.Volumes were low.
The steep red channel was maintained. Breadth was only marginally negative. The Nifty must close above 6045 to remain within this channel. I have drawn the rising wedge too which has support at 5962.
Good support exists at 6003-5982-5962. A break below this will lead to a retest of 5932.A break below this support will give a 100 point move.
Resistance is at 6045-6073-6100.
Happy Trading !!