Nifty closed below the head and shoulder neckline for the second day in a row .Targets for the fall are 4910 as per the head and shoulder pattern. The bear flag gives a target of 5010. Improtant supports are marked on the charts.Oscillators are showing positive divergence as they have failed to make a lower low alongwith the Nifty. A pullback may be coming which would best be sold into.
Half Hourly Chart
Oscillators continue to be in positive divergence.Bears may take a pause.
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