Daily Chart
The outside pattern's indication for a reversal has been
vindicated.Breakout above the green downtrendline once again and close above the 50 dema.This is bullish.The OBV had
given a bullish indication having shown positive divergence continues to move up.
Unlike the Bank Nifty, Nifty seems to be struggling at the 50 % retracement level of the last fall from 5378 to 5191.bulls need to gather more momentum to omplete the right shoulder and break the neckline at 5378-5386.
Half Hourly Chart
Supports at 5255-5233-5215-5190 Resistance at 5280-5306-5318-5360
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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