- Nifty 5 Minutes violated the channel and is forming a small range between 5498 - 5532.
- Break of 5498 may take price to the lower end of the larger trading range. Above 5532 we may see an up move.
- Nifty 5 Minutes chart shows price correcting towards the bottom of the trading range.
- Price is moving in a descending channel. Intraday up move will be possible only if the channel is violated and Day Low is held.
- Otherwise we may see price Moving towards the bottom of the range staying within the channel.