An outside day was formed which is a one day reversal. The momentum on the downside though just seems to have picked upand any upside could just be a pullback.Like i had mentioned sometime back that 5350 has been violated thrice and would be just a minor support, it gave way easily and Nifty closed below it once again.
Support now at 5262-5208-5196-5177. Resistance at 5422- 5456-5480-5534-5580
Half Hourly Chart
The bears were too strong to allow the bulls to take advantage of the falling wedge.Support of 5370 given way. Supports now at 5196-5177-5167.
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