Daily Chart
The Nifty made a fair attempt to break out of the bullish falling wedge falling short by about 10 points. The break out level for tomorrow stands at 5081.A trade and close above this level will be bullish.Targets after it breaks out.The solid confirmation of a short term rally will be the scaling and close above the 5169 level.
Half Hourly Chart
A bullish Inveretd Head and Shoulder ( as pointed out by Lsg Rao on the discussion forum).The breakout from the downtrendline from the recent peak of 5169 strengthens the possibility of the right shoulder forming. Breakout from the neckline which is around 5155 will give a bullish target of 460 points.
Resistance and Supports marked on the charts.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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