Daily Chart
A bearish engulfing candle on good volumes.The up move from the lows of 5624 has been very weak and sluggish retracing just around 30% of the fall from 6181.Oscillators too are showing weakness struggling to cross the 50 level. The move from 5634 is in an upward channel which could be a bear flag.Watch out for cracking of support at 5695.
Half Hourly Chart
Back below the red neckline opening up possibilities of the 5230 target. Redrawn the triangle with support at 5648-5651 and resistance at 5796-5788. Breakout from this level should guide direction for the short term.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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