Half Hourly Chart
As anticipated in my weekly analysis ( read here http://vipreetinvestments.blogspot.com/2011/05/reigning-nifty-weekly-update-28th-may.html ) , the bulls have won for the time being and succeeded in moving above the red neckline of the inverted head and shoulder pattern. The target should be around 5700 which also coincides with the 61.8% fibo level of fall from 5944 to 5330. The portions shown in red elipse also show support/resistance around 5700. This should therefore be strong resistance.
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