Hourly Chart
In hourly charts we see a Inverted Head & Shoulder pattern but heavy selling pressure seen near the Resistance line. A strong up move with heavy volumes needed to break the Resistance line. Today if breaks above and holds for 10 min with Volumes 4610 - 4630 levels then next target is 4640 / 4662 / 4680 / 4703. Again yesterday FII’s are huge buyers. But yesterday very poor volumes ( 1.73 Cr ) only. But still we haven’t broke the neckline of the Head & Shoulder. On the lower side 4535 act as a support.
5 Min ChartIn 5 min chart a symmetrical triangular pattern seen. If breaks the support 4535 with volumes on downside means then probable target is 4460 – 4440 levels.
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