Before I go

We've broken out of the larger channel and any fall maybe limited to 5380 - Ive closed my positions since I will not be able to track.

Watch if we re-enter the red channel - If we do then 5000 will come around. Otherwise fall limits to 5380 then up to 5650 / 5700 then down then up to 5850 / 5900 (by which time the daily indicators will be overbought and the downtrend will resume again to 4500/4200.

Here's an older chart which i posted earlier under Nifty