Daily Chart
A very small pullback which would better be termedas a pause in the fall. Support at the green trendline held well.Stochastics has reached the oversold zone but still falling.Oscillators weak signalling the fall may continue.
Half Hourly Chart
Resisting at the 5297 level since yesterday which is also the 23.6% retracement level of fall from 5499 to 5233.5500 needs to be crossed to resume the uptrend.
The short term is in a sell. The falling channel has resistance at
5290-5234 and support at 5169-5117.Half hourly oscillators showing
positive divergence raising chances of the pullback from 5233
continuing.Only a cross above 5450 will resume the uptrend.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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