Daily Chart
A down leg of the flag is still forming. Breakout point is at 5315.The 5 & 20 dema have given a sell.Support was taken today around the earlier low of 5268. If breaks, support available at 5235-5216-5187-5147.Oscillators showing weakness.
Half Hourly Chart
Half Hourly Chart II
Half Hourly Charts show the symmetrical triangle decisively broken on the downside.This gives a target of around 5100.Only a move above 5392 can bring back the bullishness.There may be a pullback with the half hourly charts showing some positive divergence which would be an oppurtunity to sell with a stop loss of 5392.Only a fall below 5100 will put the uptrend in danger.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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