Bullish Head and shoulders on Nifty Technical Forecast for 21 - October - 2013

Technical Forecast for 21 - October - 2013 for Nifty and Sensex

On 18-October-2013, Nifty Closed at:6,189.35 (+143.5) due to weekend factor, for 21-Oct-2013 monday, after day of high range of 156 pts, markets will be range bound in 50-75pts trade range.

Bullish head and shoulders pattern in nifty index

Bullish head and shoulders pattern in nifty index, Target calculation are as follows:
6100(High..approximated) - 5300 (low)= 800points (difference)
6100(High..approximated) + 800points(difference) = Target 6900 on nifty

Estimated Time of Arrival of target (ETA):
pattern start = May(5-2013)
Pattern Close/confirmation = October (10-2013)
difference between start and confirmation= 5 months from 21-oct-2013..
ETA = March-April 2014