* Prices are making lower low and lower high formation and failed to sustain below support placed at 29200
* Prices and Stochastic bottom indicating short term bear exhaustion and to support this prices have made bullish harami pattern .
Inference & Expectations :
* Next support is placed at 28950 and resistance is placed at 29540
* This week prices might see testing 29400 and further 29540 levels
* On the contradictory if prices break below 28950 we might see prices testing 28777.
* Prices are making higher high and higher low formation
* Negative divergence seen in indicators
* Support placed at 3660 and resistance placed at 3815.
* Trend is bullish
* Buy if price break above 3815 for target of 3840 and 3860 stop loss can be placed at 3785.
* Prices have made an head and shoulder bearish chart pattern confirmation with volume and neck line placed at 737
* Negative divergence between prices and other technical indicators indicating weakness in prices
* ADX > 20 and –DMI>+DMI indicating bearish trend
* MACD break below zero indicating strong negative momentum.
* Prices are in the bearish mood
* One can look to sell at current levels for target 707 and 680 with stop loss placed at 738.