Nifty is moving in channel. Chart is showing both (bearish and bullish) direction of price movement.
BEARISH - See the up slanting neckline in but right shoulder is till not formed. Price have trend line resistance at 4758, if price will respect that trend line then right shoulder will be formed. At that place another one resistance ie 38% level of mejore price move
BULLISH - See the downslanting neckline which having two left shoulders. If price will take support at 4715 and if it will the neckline then price pattern having movement of 70 points up side because of inverted H&S.
TARGET OF BEARISH MOVE- 4671,4655
TARGET OF BULLISH MOVE- 4800,4823
