Inverse H&S is in making?

Technical Analysis for 22nd Dec 2011

Is Inverse H&S pattern making in Daily Chart?

Nifty Daily Chart - an Inv H&S?

10-00 am Update
Consistent trading above 4655 ... Nifty likely to show new top,and below 4655 probably it would test DLEMA.But now when NF O.I. has come down reasonably well,the selling would be absorbed easily. Let us see.
Anyway this :pause: is quite nature after a big rise I feel strong support @ 4600 levels. In between it may threaten to break like situation but it will manage 4650 level. if it protects no worry we will meet @ 4774 ofcourse not in one go. If @ one go who don't want?

12-00 pm Update
Supported so far @ 34hr sma-4652.
Struggling around 4666-DEma.
Above 4675, strength/ channel break out.
Below 4652 - towards 21 hr sma.(4610-15) also DLEma
Bank Nifty will show strength above 8120.

2-00 pm Update
4709 Is 61.8% FROM 4818/4531.
HIGH SO FAR 4708.80.
NEXT IS 4743/4761
NS has to be above 4711(DHEMA) and 4721(JNSAR) for more upside.

2-36 pm Update
JNSAR is hit LONG







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