The fourteen day period (Relative strength Index) RSI on the Nifty has risen above 50+ Levels towards 59.27 which Indicates a breakout on the Nifty above 4932 which acts as Pivot level for the month of January 2012.
Fibonacci retracement levels on the Nifty if broken above 4932 can lead towards 5024 and 5127.
Recommendation : Stay long on the Nifty once 4930 level is Broken with targets of 5127 and 5400 till the end of March '12.
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