Nifty Cup and Handle

• Bollinger band shows price contraction. Since price is stuck between the upper band and 20 DMA a close outside these two ranges might give direction. Price closing above the top bollinger band will make it an inverted head and shoulders and Cup and Handle Breakout.
• Small triangle shown in the first chart if gives an upper breakout will give momentum for bulls. But they need to take out 5570 - 5605 and close the day above these levels.
• for going short price should sustain below 5480 - 5500 level, this level is showing good support for now.