==>> 4600 levels is a major concern for markets

Nifty is back to 4600 levels again, and finding great resistance at the same. Last time too in the month of June, Nifty for the first time since the markets recovered from the bottom, closed in green above 4600. Markets closed marginally down on back of the RBI's concern about the inflation numbers. RBI kept the key policy rates unchanged. By doing this RBI's wants the Bank to lend more to the customers. He has also indicated that the rates will not be kept low forever. Traders kept their positions light through out the day. Indian markets witnessed a very volatile session. Indices kept on swinging from the positive to the negative territory.
Rollovers are also in line. Nifty rolls nearly at 41%.
POINT TO NOTE:
Last year, in the month of August, Nifty only for one time closed above 4600 levels. Almost after a year recovered the markets have recovered and the Nifty is back to its 4600 levels once again. But facing resistance at the same. In the last month Nifty tried to close above the same but did not succeed the same. Nifty is making an inverted head and shoulder pattern at the top. If it falls from that level, Nifty will find support at 4450 levels. For upside move Nifty should move above 4600 & support should be there at 4450 levels. If is falls below this then it may make a Triple Top formation and the nifty may continue its fall till 3900 levels again. In the recent past chart suggested that the upside move is there, but in the last 2 days Nifty seems to face resistance at 4600 levels. Breakout with high volumes will only decide the further move. Watch out for the support at 4450