SHORT TERM VIEW

Today nifty opened gap up and gave breakout from INVERSE HEAD AND SHOULDER PATTERN, as shown in the hourly chart below.

NIFTY HOURLY

The rough target for this breakout will be 5425-5450. For this to achieve NIFTY should trade above the neck line. If NIFTY gives hourly close  below neckline then this trading pattern will get negated.

As of now the overall trend of market is sideways (range bound) trade cautiously and follow the stop losses with strict discipline.

DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.