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.

Jan 2008 Top Not Breached - AP

Despite all the visible strength and the fact that BTST traders were not allowed to sell the stocks purchased the previous day, the intermediate top of 5545, which was reached in January 2008, was not crossed.