Nifty on hourly chart on the verge of Cup and Handle Formation.

A Cup and Handle kind of structure is forming on the hourly chart of Nifty. For the structure to complete Nifty has to close above 17429. In that case the next resistances for Nifty will be at 17472, 17528 (Strong Resistance) Closing above 17528 can potentially take Nifty to 17647 and 17803. Supports for Nifty remain at the levels of 17310, 17212 and 17171. The Bias in Nifty still remains positive.