At last short term impulse which was being discussed on the bog for last couple of days witnessed a good break out. Although it's still in bearish zone and yet to confirm a the reversal of the bigger down move of 5303-4667, it was worth playing long. Now as it has broken past 4875 as well, it can have some more fuel to for upside.
Supports: Continuation of the up move is intact. Most crucial supports for this up move are placed @ 4825-4785. Violation of these two levels can bring 4740-4705 in no time.
Resistances: 4920/25 is immediate. Above that more bullishness from intra perspective can be seen, which can bring 4960-4970/85. Positional longs should be booked once on given resistances.
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