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Nifty Bank Index
Long
Updated

BANKNIFTY will go upwards a little more

69
DESCENDING RECTANGLE BREAKOUT -
Banknifty has broken out of a strong rectangle pattern on 15 min chart with good confirmation

GAP-UP BREAKOUT -
The breakout occurred with a gap-up indicating strong upwards momentum
snapshot

SUPPORT FROM 30D SMA -
apartfrom this it had also taken support from 30D SMA during the closing of the previous day indicating there is potential for upward momentum
snapshot

5-MIN TIMEFRAME -
the pattern and the breakout is even more clear on 5-min timeframe
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Market went upwards till a some points before the target and became bearish after that. The target had to be set according to the width of the rectangle on 15 min timeframe and not according to the width of the rectangle 5 min timeframe
snapshot
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5minuteschartbreakoutsbreakouttradingMoving AveragesRectangleSupport and Resistance
peace_lover
My Social Media links :

📥 Telegram - t.me/Sagar_TradeMaster
📥 Instagram - instagram.com/sagar_trademaster/
📥 Youtube - youtube.com/@TruthfulTrader
Also on:

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.