$INDY - The Nifty50 reveals a bearish pattern under completion.
If 5988 is breached on a closing basis or 5964 on an Intra-day basis, a Head & Shoulders pattern is completed on the daily bar chart.
If this happens - and it seems more than likely given both FIIs and DIIs were sellers on Wednesday - the targets for the decline are:
1st Target: 5811
2nd Target: 5743
3rd Target: 5644