Nifty made a comeback on Thursday, after breaking out above its resistance of 4850, and closing near the highest point of the day. In this week, it has not broken the low formed last Friday, and took support near the 4800 mark. Hence, on daily charts, it has formed a higher low. Now if it is able to move past 4950/4960 and sustain there, it will form a higher high, which could signal a short term trend reversal. If not, then a break below 4870/4850 is required to awake the sleeping Bears again.
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