Daily Chart
Half Hourly Chart
The Nifty once again broke the up trendline from 4786 shown in green dashed line.Breadth was very negative but volumes were low.
The reaction of the pullback from 5690 from 58% levels seems to have formed a lower top at 6069 which will be confirmed if the Nifty falls below 5690, turning the medium term bearish.
The bear flag shown on the half hourly charts was broken decisively today setting a target of 5348 .Supports to cushion such a fall is at 5848-5728-5690. Resistance to any recovery will be at 5923-5952-5973-5995.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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