Daily Chart
The
head and shoulder target of 5298 was achieved.The 5323 level was broken
very easily.Very bearish candle on the daily charts indicating serious
selling.Rsi14 has moved below the 50 mark indicating
weakness.Stochastics has reached oversold levels.The weakness indicates
more selling to come.5235 is the support from the green neckline and it
is very important that the Nifty respects it else the Nifty will test
the 5083-5076 levels.
Any bounce will find resistance at 5354-5407-5449-5491
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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