closed at 11301 on Tuesday with a 78.6% retracement
level of the move from 11760 to 10004 placed approximately near 11385. The Rsi
has hit the overbought region. The midcap
index reversed from the resistance zone
of 4950-4985. With a strong close on Tuesday , another round of bullish
move is on the cards. Question is how much would Nifty
move before it turns around. Would it hit 11385 before it turns around and takes a breather or would the pre election rally take it beyond 11500 ?