Nifty next .... 4780 or 5370 >> 5400 ????

Last week we cautioned  you " Symmetrical triangles can be characterized as areas of indecision.  A market pauses and future direction is questioned.  Typically, the forces of supply and demand at that moment are considered nearly equal.  Attempts to push higher are quickly met by selling, while dips are seen as bargains. Each new lower top and higher bottom becomes more shallow than the last, taking on the shape of a sideways triangle..." .
this too posted on August 3
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7VMlAjoIgXEiF5UgrMSJxzVoSPDD31hDmGhWM5PtHGJGgEQK9I4sLzHwqghGjKhwYLuy_FERmuSyq9MHV62lESqGJjuO-jSdgBS6kByZfn_8YZYERyzGAdwS4dql6KXsL2eNqJaXtaAU/s1600/2011Aug-S%2526P+CNX+Nifty-800x600.png
at present nifty is trading above a nice support located at  5150 5200..on break of support bears will drag nifty to 4780 level...
yesterday's  intraday chart is showing that nice demand emerged at lower levels and a nice inverted head and shoulder pattern was seen ..On nifty EOD chart hammer was noticed so there are 90% chances of a break in fall are there ,,,upside resistance at current scene is 5377...