Below is the technical chart of Nifty, using Ichimoku Kinko Hyo indicator.

 

 

 

 

 



 

 

 

Chikou-Span line is facing resistance on kumo. It can't cross kumo at one go. It needs to come down for some correction first. On the other hand, price candle in the chart signals to book profits at these levels. In summary, you may see Nifty at 4960 and then 4816 in coming days.

Book profits in Nifty | Technical Chart | 23-Jan-2012
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