Half Hourly Chart
Selling stalled after some initial morning weakness forming a pennant. This is a continuation pattern and the tiff between bulls and bears should resolve on the downside.The move should achieve the target of 5547 which would .The 5 dema has given a bearish cross with the 10dema which is a good indication of short term weakness. In case of a freak upside breakout occurs then will find resistance at 5780-5808-5834-5848.
Only a sustained trade above 5848 can bring back the upward momentum.
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