5053 and 5063 are two line of defense for bulls. Buying at Lower level is suggested. Towards upside bulls can target 5100-5140-5220 levels and towards downside 5073-5065-5053-4980-4900 -4840
would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.
Trend/Momentum :Daily and Weekly Chart have reached overbought Territory.
Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.
Position: Price cluster exit at 5100 and 5220-5240.
Action : Profit booking and Holding minimum long position.
Potential Trade setup:
Suggested : Sell can be done near 5100 level with stoploss 5120 Target 5000.
Actual Sell done at 5140 Stoploss 5160 Target 5073-5050. Sell @ 5100 was avoided because bearish reversal happened at 5140 level.
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