Half Hourly Chart
A lower high and lower low formed from key reistance trendline. However the selling pressure of the previous two occasions on 5th november 2010 and 3rd January 2011 is missing. The correction has been sideways till now.
The half hourly chart shows the sideways movement in the form of a bearish head and shoulder pattern.Break of neckline around 5870 will give a 80 point move which may find support at the 23.6% fibo level of the rise from 5348 to 5944.
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