Price made an early low and climbed upto the zone till 5035 where I expected the resistance ie the point where the Upward Green Median line and downward red Upper median line intersects.The pullback was contained within 38.2 %R of the previous swing and today making a higher high than the prev high, makes me consider the probability of an upmove developing.,The swing is heading towards prev high at 5150 zone , either immediately or with another pullback to 4987-4942 support .If it stops at 4987 and move north its going to be a swift move.Or else 1-2 days of consolidation till 4942 levels and move up.Below 4942 however this view gets negated and we're in for the move down.
Plan would be to look for support pattern at 4987-4942 zone to buy for target of 5150 zone. with stoploss of 25-30 pts.Below 4906 , price should go below the previous low of 4759.
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