NIFTY 5 minutes chart update

CHART-III

• Break of 6067 led to a big slide in nifty futures. Since price has moved far away from moving averages we may see a small bounce now.

CHART-II

• Nifty Futures slipped below 6067.
• Minor strength can be seen above 6067. But the trend line in 5 minutes and 6097 area will act as resistance. Real strength can be seen if price sustains above 6097.
• Staying below 6067 will favour bears

CHART-I

• Nifty Futures 5 minutes chart below the trend line.
• The area marked was the first reversal attempt to trade above the trend line which was sold off.
• Now bullish moves will be possible on a convincing move above this trend line till then its sell on rise.
• Breakout above 6097 will favour bulls provided it stays above the trend line.
• Break below 6067 will be a good place to sell again.
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