Price did finally break out of the resistance at 4880 to reach 4900 zone and closed positive for the day.The zone is still an indecision zone if we go by PF analysis.
Price above 50 SMA inside ascending main PF. ..still in uptrend
Broken out of the temp PF so the upmove may continue. within the new channel created.
4800 zone is the support level for the upmove.
Negative view - It's touched the trigger line and yet to cross it with momentum.Still in resistance zone.Looking at stoch indicator (35,3,3 ) , there is a probable divergence which indicates a top being formed...
The finale should unfold with monday's action.
Reduced 30 % of my shorts and balance hedged with calls,so will be taking a call on monday.
have a nice weekend..