The Down Trend continues, firming up in Higher Time Frames. Chart updates and Observations as of now -
The Down Trend is quite strong and one can see it has spread from lower time frame to higher ones in last couple of weeks.
Break of 5500 will be signalling a continuation of the Down Trend to target 5450-5420-5350 in near term.
Short term bounce to unfold only on close above 5600 in next 2-3 sessions that can target apprx 5750-5800 if sustains.
Remember that in such a Down Trend surprise will be on downside and short term supports or a bounce may not hold strongly.
Stay with the Trend and enjoy till it lasts with proper risk management.