BankNifty is showing a powerful Cup & Handle formation on the daily chart — a classic bullish continuation pattern.
📍 Breakout Level: 55,800
🎯 Target: 64,000+ (Upside of ~8,280 pts / 17%)
🛑 Support: 53,600 (Previous resistance)
💡 Volume backing the breakout confirms strength.
Previous triangle breakout → consolidation → now Cup & Handle — a textbook rally setup!
⚠️ A daily close above 56,000 could ignite the next leg of the uptrend.
📍 Breakout Level: 55,800
🎯 Target: 64,000+ (Upside of ~8,280 pts / 17%)
🛑 Support: 53,600 (Previous resistance)
💡 Volume backing the breakout confirms strength.
Previous triangle breakout → consolidation → now Cup & Handle — a textbook rally setup!
⚠️ A daily close above 56,000 could ignite the next leg of the uptrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.