Short covering? Hogwash. Its classical DIVERGENCE if you know your technicals!
Compare the thick white lines on price chart with the thick white line in indicator chart below – in the same time period. 1st Example, Nifty collapsed. 2nd example, Nifty spiked up – both times to compensate for real divergence!
Expect a gap up on open on Friday 21/01/2011.
Twitter: @niftygroup @jsvasan

