Market overdue for a reaction

5 days up
No new highs.
Last time
3570-3900 = 5 days to top @ 3900

The swing targets on eod are
S&P CNX NIFTY, Analysis Date:4/10/2007
Close/cmp:3848.15
Swing : Up=Buy ( 5.000% sensitivity)
T1:3823.28 T2:3949.8
T3:4154.49 1xR:4184.3
SwingHigh:3,901.4 CMP:3,848.1
SwingLow:3,574.3 SLPivot:3,618.6
2xAtr14Stop:172.096
Narrowsl:282.85
WideSl:458.22
Lower Chan:3640.96 Upper Chan:3950.33
ResLine:4011.15

The intraday swing reads

S&P CNX NIFTY, Analysis Date:4/10/2007 3:53:59 PM
Close/cmp:3848.15
Swing : Up=Buy ( 1.000% sensitivity)
T1:3794.09 T2:3845.95
T3:3929.85 1xR:3791.8
SwingHigh:3,751.0 CMP:3,848.1
SwingLow:3,618.6 SLPivot:3,710.2
2xAtr14Stop:41.9556
Narrowsl:40.80
WideSl:66.10
Lower Chan:3833.49 Upper Chan:3921.38
ResLine:3612.86

Market needs to work off overbought condition on hourly charts near 3845-3857
Either by going sideways or down. Weak sideawys reaction target = 3821.
Retracement levels for reaction:
Retracements :3710.2-3856.75
0.236:3822.16 0.382:3800.77
0.5 :3783.48 0.618:3766.18
0.786:3741.56

So far 0.236 holding tiny sideways reaction till rising trendline. i.e trendline not even broken yet!!
A reaction till rising gap area 3760 would not damage the trend.
So my view is be a buyer at 3783-3766 if seen sl 3741.

Anything deeper below 3760 rising gap/0.618 would create fresh problems.