Half Hourly Chart
"Stochastics on daily charts has reached the overbought zone and a pullback to the recent rise from 5330 can be expected". No visible pullback but a consolidation within a 37 point range making a higher high and low. Minor negative divergences forming on half hourly charts which may lead to a more significant pullback to the move from 5330.
The target around 5700 which also coincides with the 61.8% fibo level of fall from 5944 to 5330 is still valid. The portions shown in red elipse also show support/resistance around 5700. The 5700 level should therefore be strong resistance.
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