Nifty Could Test 4900, if 5550 Not Broken - AP

The Nifty is at the top of the channel. If it breaks 5550 and 5625, we are then looking at a new trend and the targets would be higher. However, the bias is toward the lower end of the channel. If the above channel's upper trendline is now broken, then within a few weeks Nifty could test 4900 levels soon.