Weekly Chart
The weekly candle shows a rather undecided and confused market leading to selling at highs. The support line of the blue rising channel worked as resistance.
Daily Chart
The target of 16700 was achieved ! Selling soon after is a normal phenomena which found support in the minor resistance area of 16375. Holding this area and closing gap made at 16510-16569 will see attempts to move up again else the downward move should continue.
Hourly Chart
The upmove from 16513 is over as shown by break of the red uptrendline with a gap down. Supports and Resistances marked on the chart.
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Happy Trading !!
Lakshmi Ramachandran
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