Yesterday NS opened gap down but did not close below the week Lema indicating support at these levels.
It has closed just at the 61.8%retr of the rise from 5197-5740 and above day Pivot.
It has closed below all 5ema's, and Day Lema.
It has breached the weekly support line of 5430 and closed below it, but it is supported by Day channel.
Trading above todays pivot at 5404 would give some intraday bounces upto yesterdays high of 5422 and may be till the Day Lema of 5444. A close above the Day Lema would reverse the trend in short term.
Action plan for the day:
Sell below 5440 with SL Hr close abv 5450 Day Lema
Buy above 5450 with SL Hr cls blw 5440
Buy above 5390 with SL Hr cls blw prev low 5375
Sell below 5470 with SL Hr cls abv 5390
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