📉 Bank Nifty – Double Top Breakdown: Initiate Sell Signal
The chart confirms a Double Top pattern on Bank Nifty, signaling a bearish reversal from the recent highs near ₹58,550. Both peaks faced strong rejection at this resistance, reflecting weakening bullish momentum.
🔹 Sell Signal Trigger:
Initiate short positions once Bank Nifty breaks and closes below ₹57,480 (neckline support).
This breakdown confirms pattern completion and potential start of a downward move.
📊 Trade Setup
Stop Loss: ₹58,550 (above recent highs / resistance)
Target : ₹56,370
🧭 Technical Rationale
Pattern: Double Top – Bearish reversal confirmation
Structure: Two failed attempts to cross ₹58,550 indicate selling dominance.
Momentum: Weakening buying strength visible; a neckline breakdown often triggers a short-term trend reversal.
Volume Confirmation: Look for increased selling volume on the breakdown to validate the move.
⚠️ Disclaimer
This analysis is purely for educational purposes and not a recommendation to buy or sell.
Trading involves substantial risk — always conduct your own research or consult a financial advisor before taking any trade.
The chart confirms a Double Top pattern on Bank Nifty, signaling a bearish reversal from the recent highs near ₹58,550. Both peaks faced strong rejection at this resistance, reflecting weakening bullish momentum.
🔹 Sell Signal Trigger:
Initiate short positions once Bank Nifty breaks and closes below ₹57,480 (neckline support).
This breakdown confirms pattern completion and potential start of a downward move.
📊 Trade Setup
Stop Loss: ₹58,550 (above recent highs / resistance)
Target : ₹56,370
🧭 Technical Rationale
Pattern: Double Top – Bearish reversal confirmation
Structure: Two failed attempts to cross ₹58,550 indicate selling dominance.
Momentum: Weakening buying strength visible; a neckline breakdown often triggers a short-term trend reversal.
Volume Confirmation: Look for increased selling volume on the breakdown to validate the move.
⚠️ Disclaimer
This analysis is purely for educational purposes and not a recommendation to buy or sell.
Trading involves substantial risk — always conduct your own research or consult a financial advisor before taking any trade.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.