Directionless within the triangle which should give way one way or other by tomorrow. The 200 dema has given a downtick once again. 50 dema continues to diverge lower from the 200 dema.The shorter term averages , 5,10 & 20 are however bullishly aligned.
Half Hourly Chart
The diamond broke sending the Nifty into negative territory. The fall was not taken advantage of by the bears leading to some efforts to recover , forming an up trending channel.
Half Hourly Chart II
The rise from 5177 seems to be a bear flag as of now . Trade in the direction of breakout .
Reminder : Refer post of 7th March " A double bottom and a double top formed. Crossing 5600 will confirm a double bottom and a fall below 5232 will confirm a double top. Whichever way it breaks will give a move in that direction of 370 points".
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