Nifty finds intra supports & rallies ahead (aided by short covering/ roll over)

Any weakness in prices owing to very short term negative divergences are getting corrected on intra day dips and buying as well as short covering emerges on those dips propelling Nifty to higher highs.
Many oversold stocks mentioned earlier have been rallying steadily and this settlement having started around 2755, dipped to 2570 in the first week and rallied nearly by 500 points may halt for a couple of days but will end this settlement on 24th Dec(Wed) near the highs due to short covering.
With the passage of time, the channel support keeps increasing and it is at 2940 and the channel resistance comes to 3100/ 3150 for Wednesday.
80% of the last fall from 3240 to 2503 comes at 3093.(To be watched out for..!!)This scenario only if it turns out to be a contracting triangle.If not, the rally may continue with periodic corrections.