Huge bullish candle on ok volumes. The support of 4830 has held well. In fact the Nifty did a U turn from 4860 and went up without any mentionable corrections.The target now is 5145 of the inverse head and shoulders which I have been mentioning since a few days.The move from 4538 is within an upward sloping channel. .All half hourly oscillators are in the oversold zone. So look for resistance from this channel is at 5036-5080
Half Hourly Chart
Daily Line Chart
The rising wedge target of 3850 is valid till the top of 5150 is taken out on a closing basis.