Daily Chart
The Nifty broke the short term uptrendline intraday but recovered by end of day to close above it. Support now at 4838 - 4764 - 4720. Resistance at 4932-4969-5013.
Half Hourly Chart
Nifty broke out from the bullish wedge shown yesterday but failed to scare away the bears.The last hour of trading has formed a evening star pattern and broke out of a diamond pattern.This indicates more fall unless the diamond proves to be a bullish continuation pattern.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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