The island reversal was confirmed with another gap down bearish candle.The 5&20 dema is in a sell again.200 dema at 5208, previous low at 5135 and the green trendline joining the two swing lows of this ongoing correction at 5122 will be crucial supports to watch.
Support taken at 61.8% fibo level of the last rise from 5136 to 5378. If holds , the right shoulder of the inverse head and shoulder could be forming.
Buy on dips to be stalled till some bullish recovery signs seen.
Half Hourly Chart
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