Pattern on hourly chart – Rising trend intact despite falling
Support – 6350, 6325 (hourly 100-MA), 6307.28
Resistance – 6427.32, 6447.34, 6487.89, 6511
- Rising bottom on the hourly chart coupled with falling warrants caution on the part of bulls, although bears have little room to make their presence felt as long as the rising remains intact.
- A rebound from rising followed by a break above yesterday’s high of 6427.32 would expose a larger falling hurdle seen on the around 6511 levels.