Target for Nifty | Technical Chart | 31-Jan-2012

Below is the technical chart of Nifty, with ichimoku indicator.

As expected, Nifty has started correction. It’s first support will be at kumo viz. @ 5061 and then at 4967. However, if kijun-sen line remains flat, it will surely drag Nifty to the levels of 4901 in coming trading sessions.