NIFTY Daily Chart

As we see nifty is trading in between 5200 to 5740 levels and breakdown or breakout of either levels will take decision for the direction of nifty.

So at this point i am in two sides which one is bull --- where double bottom is near 5200 levels in daily chart indicates very bullish above 5900 levels . and if we r completing the ABCDE pattern in Broadening Triangle formation then we can see huge uptrend pattern after making 2 nd wave in ABC wave near 5400 levels for the tgt. of 6100 levels which is strong resistance point.

And another is bear----- if this is not ABCDE pattern as i indicated in chart so that wave may be 1st ( 5177 levels) and 2nd (5944 levels) wave and 3rd wave is running where 1st wave ( 5195 ) and 2nd wave (5737) has been completed in 3rd wave then the tgt. of 1st ----4300-4450 levels and 2nd ----near 3100 levels . if price line will break 5740 levels then bear pattern is false and breakdown below 5177 levels then more probability touch 3100 levels .

So i am just looking for these two levels to taking decision for further period. and Daily RSI chart indicates bullish as i think.