Nifty to Test 4800?

Fast Rise in 30 min chart

Nifty chart 30 min

To day up to this Hr.there is not that much enthusiasm in rollover like
yesterday and intraday volume.And Nifty unable to cross
4753 confidently,where there is 1st minute big volume
cash trade has taken place.Probably Nifty coming closer
to Hrly.slightly over bought condition would be the reason.I would like to see the battle
around Day J10SAR again,in the latter half.

1.30 pm Update

Long:
BN Target 8625
NS Target 4848
NS above 4770 more upside
Short:
NS below 4753 can be shorted with a SL of 4774 target 4712

1.45 pm Update
Shorts covered @4721.
Nifty can be bought above 4731-35 with a SL of 4698
Target 4783.

3-00 pm Update
NS bounced back from 4693, it seems 4700 is strong support.
Banghead day....



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