Golden Investment Research Private Limited
Date: 18.01.2012 Time : 9.45
``Nifty has breached the 4,900 levels decisively and has closed above it which is a bullish signal. The recent rise formed a rising window pattern indicates the continuation of the short term uptrend. The index is likely to test 5,020-5,050 levels which are likely to act as an immediate resistance on the upside which is also the 61.8% retracement level of the recent fall. The yesterday`s gap up would act a strong support around the 4,910-4,900 levels on the downside. www.goldennifty.com
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