Nifty Daily chart
NIfty after forming an head and shoulder pattern in May 2013, broke the neckline and moved towards 5700 level (target as per head and shoulder 6230-5970=260 points)
But nifty failed to take support at 5700 after making an island pattern on 13 June.
Now market may take support at 5570-5600 and Uptrend confirmation will be given only above 5670.
If the uptrend continues we can see the level of 5890-5975.
Failing to sustain we can see level of 5520-5480
This is for educational purpose please consult your advisor before investing.
Regards
Rinkesh Jain
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