Nifty Technical Weekly Charts

Hi All,

Nifty is forming a Bullish Head and shoulder pattern which is giving a tgt of 4510 in near term.Having said that market as we have already seen a pre budget correction a small pre budget rally can take us to the 4510 levels

As far as i am concerned we are in corrective rally Top we made was 4693 and bottom we made was 4142
So 50% Retracement comes at 4417 61.8% 4482 so these 2 levels must be watched very closely.

For the coming week, the Pivot is 4300 and holding the same it has 4458(R1) & 4541(R2) & 4698(R3). Breaking of 4300, may lead to 4218(S1) & 4060(S2) 3977(S3) & .