Daily Chart With OBV
Daily oscillators show more room for upsides. The half hourly oscillators too are moving up after showing positive divergence.Nifty has moved above the 50 period ema on half hourly charts and the next logical levels is 200 period ema which is at 4870. This coincides with the minor top made on 28th October at 4867.The 50% retracement of fall from 5182 to 4538 is at 4860. So the 4860-4870 level could be strong resistance.
Happy Trading !!