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:
Sell can be done near 5220 level with stoploss 5250 (TRT)
SAR trade (ST)
1. No Trades
Trend reversal trade (TRT)
1. Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)
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