Daily Chart
A good bounce breaking out of the steep downtrendline.The bounce coming after oversold status and positive divergences should carry on for some time.
Daily Chart
The short term 5dema is the only one to have turned up. 10 dema proved resistance at 4929 and is flat. All medium and long term demas falling yet indicating caution on longs.
Resistance at 4975-5034. Support at 4883-4852-4827-4801.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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