NIFTY;already formed a cup handle pattren and breaked out from there and haltted at the resistance zone,and also took support by 200ma,if it breaks and close on above 16715-16720 it will be bullish and we will get the target till 16820,16850.if it gone bearish it has to breaks and close below 16630 and it tgt 16560,16500-16490