Considering the extreme overbought situation for the very short term there is a possibility of a short bounce. This may go near 5234 - 5249- 5263 38.2%, 50%, 61.8% retracement of the fall from 5310 to 5187.15. These can be used as opportunity to sell. Mild strength may emerge only after a move above 5162 5 day EMA.
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NIFTY:
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