Nifty daily chart analysis for eighth june

• Nifty ended negative yesterday. But Some possible reversal patterns are still intact.
• Like the inverted head and shoulders pattern is very much possible as long as nifty stays above 4900.
• But on the contrary it is trading below the 20 day and 200 day moving average. And after many weeks the 20 day SMA is approaching the 200 day SMA for a bearish cross. If the cross does not happen this can give a good rally from here.
• We had a break down from a rising wedge in hourly chart. So nifty has to close above 5140 for bullishness to return