BN opened at 36766 and the first 5 minute candle was very bullish - BN rallied close to 200pts before giving up the gains. The same may be due to the quarterly results of ICICI which has a 22%+ weight-age on BN. Although the fall seemed dangerous - it took support at the 36558 support line.
From 10.25 to 14.00 the trades were in and around the support/resistance of 36558 finally breaking out by a strong bullish 5mts candle. The short rally did not last, BN gave up the gains to finally close similar to last day's closing.
5mts candle for the last few days may show a minor pause after a strong rally. If the markets go down tomorrow also we may be able to call it a M top (double top) at-least for the interim.
The 1 hr time frame shows trend continuation if BN does not rally again and break the 37200 resistance.
Important support & resistance areas
s1: 36558, s2: 36168 (strong support)
r1: 37250 (strong resistance), r2: 37512
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