Stocks ended mixed on Wednesday, as the market failed to breach highs and lows of the previous day successfully.
Such kind of mixed activity may be possible till the market is in medium-term down trend.
As per intraday charts, the market is forming a small "pennant" after a steep sell-off from the level of 5390, which is
a continuation pattern and on the dismissal of the lower boundary of the same may result into one more sell-off minimum
to the level of 5160/17275 with a minor support at 5205/17390 and 5185/17340.
For the day, sustenance of the market below the level of 5225 in the second half of the trading session will lead further
weakness and on the other side sustenance of the market above 5240 will lift the market to 5270/5290.
