We had a big black candle coming back into wedge. Confirming that trendline (TL) breakout was a false one.
Levels to cover shorts or keep eye on 5110 (to be read as support) on downside. Below those levels we may be looking for another 80-100 odd points in Nifty.
On upside TL will become resistance. Paper stocks are showing new strength whereas Infosys had another bad day post flat results. TCS came up with good set of numbers after HCL Tech.
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