Please check the trading insight provided at the end of the last post- CLICK HERE , we now move forward with it in the charts and observations given below-
1. Weekly Chart :
2. Channels :
3. Daily Chart :
4. Hourly Chart :
5. Options Data :
6. Alternate Bullish Pattern :
Now the trading insight in short term may be as follows -
Markets are in a larger uptrend but now with signs of exhaustion in daily time frame.
Broader range of trading may be 5800-6000 with a downward bias this week.
In the short term this range has higher probability of breaking down than up as of now, till closes below the recent top of 5950.
Upmove to resume/extend on closing above 5950-70 only (with targets of 6050,6150 apprx) . Below last session low of 5890 , weakness will creep in price structure (with targets of 5825 ,5790,5735 ).