Evidently clear Head & Shoulder pattern on the nifty chart. This can lead to a significant fall if current level is broken further.
Sometimes the patterns aren't apparent. But if you look close enough when there is a big movement, sometime it reveals some nice story. You may ignore this saying there is a resistance coming looking at previous peak. Believe me , sometimes these resistances gets broken like a piece of glass. Look at the two double bottoms one after another in long and short...
Ready for a breakout with Cup & Handle pattern on a weekly chart. Observe a increase in volume. Closing above the recent consolidation should result in a good rally.
Attempted breakout, but resulted in supply wipe out. Closing above PoC and a good base. Chances of a good positive trend.