So 4825 worked brilliantly (high made 4823.5) and still holds the good for bears. The corrective up looks to be weakening as long 4825 is breaking on the upside. Though as discussed on yesterday's post that an 5 wave impulse is in course in the smaller time frame on the upside, so that's the last hope for the bulls to make this corrective up a bit more lengthier.
Supports: Immediate support is 4745. As told previously, as the very short term chart exhibiting impulse upward movements, so 4715-4690 is the most critical place to sustain this upside rally. Below that 4640 can come in no time. Further break down can bring 4520-4440 positionally.
Resistances: 4765-75. Above that It can witness some recovery upto 4795-4805. Main hurdle still @ 4825. Above which 4860/75 can bring very easily. More strength can bring 4915-4935-4955/60.
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