Nifty update with chart

Nifty trading around the 55 DEMA 4975. Now  from the weekly chart it is clear that Nifty holds the support at 4936 -61.8% retracement of previous swing and once Nifty closes below the 4860 - 50% retracement , it would lose  the upside momentum.  Breaking of the upward moving wedge(bearish signal) could signal panic selling for wedge target around 3920 levels with  in-between target of 4363 and 4140.
                                                       Now a close above 5092 would keep the uptrend intact for target of 5247 and 5330.