NIFTY is making a head and shoulder pattern in 15 min TF.
Scenario 1: If it breaks and sustains the neckline and 16558 level, possible targets on lower side would be 16517, 16483 and the gap can also be filled after that.
Scenario 2: If NIFTY bounces back from the neckline making a hammer in 15 min, possible targets on upper side would be 16707, 16752 and 16800.