Nifty Bank IndexShort
Bank Nifty Analysis (Study Purpose Only)
This chart represents the Bank Nifty Index (1W timeframe), showing a long-term trend with higher highs (HH) and higher lows (HL). The key observations from the chart are:
Uptrend Channel:
The price has been moving within a long-term rising channel (purple lines).
Bank Nifty has consistently formed higher highs (HH) and higher lows (HL), indicating a bullish trend.
Recent Breakdown Sign:
The latest HH shows a potential reversal with a breakdown from a short-term uptrend (yellow line).
If the price fails to sustain above the yellow trendline, a correction toward the lower boundary of the channel is possible.
Potential Correction Targets:
The orange projected path suggests a drop towards the mid/lower range of the channel.
The first major support zone is around 29,500 - 30,000 (lower trendline).
If the channel holds, the long-term uptrend may continue after a correction.
Trend Summary:
✅ Long-term Bullish but currently facing a possible correction phase.
⚠️ Break of support could trigger a deeper retracement toward the lower channel.
Would you like a deeper breakdown of key levels or alternative scenarios?
Uptrend Channel:
The price has been moving within a long-term rising channel (purple lines).
Bank Nifty has consistently formed higher highs (HH) and higher lows (HL), indicating a bullish trend.
Recent Breakdown Sign:
The latest HH shows a potential reversal with a breakdown from a short-term uptrend (yellow line).
If the price fails to sustain above the yellow trendline, a correction toward the lower boundary of the channel is possible.
Potential Correction Targets:
The orange projected path suggests a drop towards the mid/lower range of the channel.
The first major support zone is around 29,500 - 30,000 (lower trendline).
If the channel holds, the long-term uptrend may continue after a correction.
Trend Summary:
✅ Long-term Bullish but currently facing a possible correction phase.
⚠️ Break of support could trigger a deeper retracement toward the lower channel.
Would you like a deeper breakdown of key levels or alternative scenarios?
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.
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.