The stock market witnessed a sharp fall after breaking below a double top pattern. The index found support at a trendline that also corresponded to the 61.8% Fibonacci retracement level. The current rally is expected to take the index to 6065-6120, and a close above 6120 could push it to previous highs and eventually 6500. However, below 5700 a correction to 5550 is possible. A falling wedge pattern may be forming, and a drop from current levels followed by a pause would confirm this pattern. The long term trend remains upward, but volatility is expected to continue due to a rising US dollar and global uncertainties.