Daily Chart
Half Hourly Chart
Nifty made a gap up opening above the 76.4% retracement level and successfully closed above it.The gap was closed intraday and the Nifty took support in the area.OBV has broken out above it's previous highs indicating Nifty may follow.
A rising wedge is seen forming which may cap the highs. Resistance at it's resistance line for tomorrow is at 5503.A break above this line is required to negate the bearishness of the rising wedge.
The half hourly charts show the pink neckline of the inverse head and shoulders was successfully retested and Nifty is on it's way to achieve the target of 5464.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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