The chart displays a descending channel breakout in the Bank Nifty Index on the daily timeframe. After months of consolidation between a downward sloping resistance and support trendline, a strong breakout has been observed.
🔺 Resistance Zone (Red Channel)
🔻 Support Zone (Green Channel)
📈 Breakout Confirmation
🎯 Target Levels Post-Breakout
(Calculated by adding the pattern height to the breakout level)
🛑 Stop Loss Strategy
A strict stop loss is placed below 51,450, to manage risk in case the breakout fails.
🔺 Resistance Zone (Red Channel)
- Multiple rejections along the red downward sloping trendline marked as Resistance.
- The breakout candle has successfully closed above this zone, confirming a bullish breakout.
🔻 Support Zone (Green Channel)
- Historically strong buying zones identified at the green support trendline.
- Each dip toward this line was followed by a bullish move.
📈 Breakout Confirmation
- The price has broken out of the resistance channel, and the breakout zone is highlighted with a black circle.
- The pattern height is used to estimate potential upside targets post-breakout.
🎯 Target Levels Post-Breakout
- Initial Target: 53,950+
- Next Target: 55,450+
- Projected Final Target: 57,450+
(Calculated by adding the pattern height to the breakout level)
🛑 Stop Loss Strategy
A strict stop loss is placed below 51,450, to manage risk in case the breakout fails.
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🍎 iOS App: bit.ly/TradZoo-iOS-App
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.