Nifty closed near 4444 on the last day of May trading session , The level which has been so crucial from last 2 years ........As we see from the above chart Nifty has rallied with great force whenever it has managed to sustain above 4444 for atleast a week or two n fallen otherwise.......So watch out for this level closely for next 1-2 weeks
About Cup with handle - Nifty retraced from the euphoric high of 4509 to 4092 and managed to pullback again to 4488 , Here a very important point to consider is low volumes in the upmove . Nifty is forming the Handle part now surely , but the Flag -Penant pattern is not confirmed yet . As I have mentioned in My last post when I revealed this interesting Cup with Handle pattern , that Nifty should retrace upto 1/3 of the cup during the handle formation ..... Nifty surely did reached 4090 which can be said enough but some criteria are yet to be fulfilled such as volumes n time range for the formation .......
I dont want this pattern to be failed as it is a very strong bullish pattern which will give us a chance enter for 2000 huge points in very fast n furious way
.......So have patience for some time ........Adios
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