The Head and Shoulder target of 5230 was achieved. As pointed out this is a strong support area too. Action today seemed to indicate attempts at recovery with the Nifty futures constantly trading at premium and ending with at 30 points.
Half Hourly Chart
Target of 5230 achieved and taken support on the falling wedge. The pink head and shoulder target is 5165.Expect to achieve that too if the falling wedge support fails.
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!