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Multiple resistance above 4,900 on Nifty
The Nifty has slowly inched up in a series of mini-sessions. It seems to be consolidating between 4,800 and 4,900. The short-term trend seems mildly positive. Breadth indicators are neutral. Volumes are average, overall advance-decline ratios are slightly negative. There's not been much institutional action yet in 2012.
Intra-day volatility has dropped a lot and so has implied volatility. One would
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