how to read a text file in ios

I am reading a txt file with a very simple code. The problem is that in the Log statments I only get the path of the file but contents are null. I guess that the problem lies in encoding part.Any Suggestions on how to read my text file.

NSStringEncoding encoding;
NSString* content;
NSString* path = [[NSBundle mainBundle] pathForResource:@"colorpalette" ofType:@"txt"];
if(path)
{                                               
content = [NSString stringWithContentsOfFile:path  usedEncoding:&encoding  error:NULL];
}
NSLog(@"path is %@",path);
if (content)
{
    NSLog(@" content of file is %@",content);
}