it can be seen from the chart above that there is huge divergence in the MACD histogram and also RSI. As Nifty is making a new 30 week closing high the volumes were less and also it is associated with -ve divergence of MACD and also RSI pointing out that bulls are not as strong as they appear to be. Unless and other wise a very very powerful up move materialises now there divergances would not die out too soon. So as of not techncially it is pointing towards a probable short term top after which we might see market slipping towards 5000 levels.

M.Sri Mahidar
Trend is friend.