NIFTY - Now Make or Break status

NIFTY (5366) - Yesterday it touched 5400 and  it seems top out even though not confirmed all the way exactly. 

  But in one year purview, it already forming  

Head and Shoulder pattern.

Right shoulder @ 5400 formed in Oct. 2011 and Head formed @ 5630 in Feb. 2012  and yesterday it forming Left shoulder @ 5400. 

In case in coming days, if it is  not trade and stays above 5400 then expect down side move, for that,  down side target and support 4700+ and /or afterwards 4500+. 

(it may take days or weeks)

*****

But in coming days it if trade and stays above 5400

 then the above mentioned pattern is going to nullify

 and in that case expect minimum upside target 5600+ to 5700+

                                                               
                                     ^^^^^^^^^