Below is the technical chart of Nifty, using ichimoku indicator.

 

 

 

 



 

 

The Nifty is trading inside kumo, which is no-trade zone. On the upper side, it will face tough resistance between 5368 – 5400. Once it gets closed above 5400, it will start its rally again for the target of 5530. But on weekly charts, it still shows the target of 5080. So, I suggest to sit on cash till it gives breakout on either side and start trading outside kumo.

Nifty Technical Chart | 20-Apr-2012
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