Nifty Weekly Chart 19-12-2013

 Above is the snap shot of Nifty weekly chart after the close at all time high on 9th dec. 2013. Though we have made all time high after Election result ; market would not able to sustain at higher level seen pressure whole week.

Second snap is of Nifty weekly chart on 19-12-2013 in morning just after Fed tapering & Indian Monetary Policy on 18-12-2013.
           In above chart nifty is trading in a Expanding Broadning  Formation which is a type of TOPPING formation whose last leg is about to come in near future targeting towards scary levels. Once it breaks 6100 level on weekly closing basis ; gates are opened for 5922/5770/5480/.........4800 ????????
         Though a little upside may be seen up to 6340 in normal conditions , while this formation has exception that it might  thrust above the upper trend line (may be up to 6550) which will create more panic selling in that case.
                          This all is not going to happen in one day but one may remain cautious at higher level not be trapped at this level. The above explanation is for educational purpose.