Similar to Banknifty, Nifty is at the cusp of breaking the inverted cup and handle pattern.
If the neckline is broken, the target for the next month period should be 16832
If the neckline is broken, the target for the next month period should be 16832
Trade active:
The neckline is broken. Nifty is 500 points away from its target
Tomorrow most likely there would be a gap up touching or crossing up the support line. However, i would be more interested in where the close is.
If the close is below 17500-17520 then next target would be 17200.
If the close is above 17500 then price is most likely to touch 17650-1700 before reversing down.
On the overall i am still bearish on Nifty.