Nifty's uptrend continues with intra corrections.
There is a negative divergence in 5-minute chart(Note 5-Minute time cycle) which may prompt a profit booking(5 week high ema at 2965/2973) and the likely supports are 2870-2830 failing which 2810-2770.
In a rising market, Thursdays are associated with profit booking generally.
Daily trend is up; Weekly trend trying to turn up;Hourly very close to overbought and the 5 minute has negative divergences.
So book out and reenter at lower levels.And ofcourse watch the overseas action before forming an opinion.(The above based on price readings)
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