As stated in my previous post (Nifty Medium term Outlook) 4370 was a good level to enter the market. On the monthly charts analysing Nifty using simple trendlines and fib, we can see the rising trendline for this month at 4350 and for next month at 4650/75. My view is that if Nifty can sustain and close above 4650 this month then the target for Nifty is 6175. Please note at no point of time Nifty should break the rising trendline on a weekly closing basis. If we break and close below 4675 next month then this will become the resistance.