Weekly Monthly Chart & Tech indicators suggest maturing of recent Uptrend. But as stated earlier having ample liquidity in market is supporting recent valuation and providing support at major resistance level of 4450 on Nifty. It look if this rally has to go further up it can max stretch upto 4800.
Market is already over 80% higher then its OCT’08 Low. Profit booking very much recommendable, if anyone is running long since last six month. For aggressive trader & speculator small quantity of shorts can be build up @ current level, and further on confirming reversal signal you can add more short position to your portfolio.
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