Nifty daily analysis

• Nifty did manage to pull back from day's low and tried to stay above the price pivot zone of 6037 - 6075. This zone is important, trading above this zone will favour bulls and bears will try to pull price down below this zone.
• Nifty is forming a broadening top pattern. One point to note about broadening top pattern is that they are not as bearish a pattern as suggested by the name. 50% of time they breakout on the upside.
• Price managed to close above 5 day low ema and has created a hammer candlestick which can result in some upside.
• NIFTY FUTURES BROADENING PATTERN