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May this festival bring you clarity like a clean chart, and profits that trend higher with discipline and peace of mind.
Description / Post Body (Technical Analysis View)-:
After a few months of sideways movement, Nifty has finally shaped up into a strong parallel channel pattern.
The index built a solid base near 24,350, where price found repeated buying interest forming the foundation of the current up-leg.
The latest breakout above the 25,650 resistance zone now opens a clean path toward the All Time High resistance (around 26,233) which is marked as Target One.
If momentum sustains, the measured move symmetry projects a possible extension toward 26,950 shown as Target Two / Target Box.
The price structure is supported by higher lows, showing renewed strength and confidence from buyers. The curved projection hints that the market might pause slightly near the previous top before any decisive breakout.
This view focuses on chart behaviour and structure, not short-term trading signals — it’s more about understanding how market psychology unfolds through patterns.
Key Observations-:
Pattern: Parallel Channel Breakout
Base Support: ~24,350
Immediate Resistance (Broken): ~25,650
All-Time High / Target 1: ~26,233
Target 2 Zone: 26,950 ±50
Bias: Positive while above 25,000
Regards Amit, Happy Diwali!
May this festival bring you clarity like a clean chart, and profits that trend higher with discipline and peace of mind.
Description / Post Body (Technical Analysis View)-:
After a few months of sideways movement, Nifty has finally shaped up into a strong parallel channel pattern.
The index built a solid base near 24,350, where price found repeated buying interest forming the foundation of the current up-leg.
The latest breakout above the 25,650 resistance zone now opens a clean path toward the All Time High resistance (around 26,233) which is marked as Target One.
If momentum sustains, the measured move symmetry projects a possible extension toward 26,950 shown as Target Two / Target Box.
The price structure is supported by higher lows, showing renewed strength and confidence from buyers. The curved projection hints that the market might pause slightly near the previous top before any decisive breakout.
This view focuses on chart behaviour and structure, not short-term trading signals — it’s more about understanding how market psychology unfolds through patterns.
Key Observations-:
Pattern: Parallel Channel Breakout
Base Support: ~24,350
Immediate Resistance (Broken): ~25,650
All-Time High / Target 1: ~26,233
Target 2 Zone: 26,950 ±50
Bias: Positive while above 25,000
Regards Amit, Happy Diwali!
Trade active
Price re-claming 26000 levels and sustaining above so far, Will wait for atleast target one and for this stop moved to cost' Let's hope for well.Current Price 26080-:
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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.
Related publications
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.