📊 NIIT LTD – Bullish Reversal Setup
🕰️ Timeframe: 1D | 🧩 Pattern: Double Bottom
🔍 Technical Chart Overview:
NIIT is showing a strong Double Bottom reversal pattern on the daily chart — a classic signal of potential trend reversal from bearish to bullish.
After bouncing from the major support zone near ₹105, the price has broken out above the neckline (around ₹133.5) on strong volume, indicating bullish conviction.
🔑 Key Technical Levels:
🔵 Resistance Levels:
₹159.70
₹171.50
🔴 Support Levels:
₹133.50 (neckline retest zone)
₹127.90 (minor support)
₹105.00 (base support)
📈 Breakout Confirmation:
Price has broken above the neckline with a high volume spike, confirming the double bottom breakout.
Next targets lie in the ₹159–₹171 range, aligning with previous supply zones.
📊 Volume & Price Action Notes:
Recent bullish candles with above-average volume
Potential retest of neckline could offer a favorable risk-reward entry
🧠 Bias: Bullish (as long as price holds above ₹133.5)
📌 Chart Indicators Used:
📉 Volume Spike confirmation
🔃 Double Bottom Pattern
🔍 Key S/R Levels marked
📍 Entry/Target Path projection with arrow
⚠️ Disclaimer: This analysis is for educational purposes only and not financial advice. Please DYOR before making trading decisions.
📈 Follow for more actionable chart patterns | PriceAction_Pulse
💬 Drop a comment if you're tracking NIIT!
🕰️ Timeframe: 1D | 🧩 Pattern: Double Bottom
🔍 Technical Chart Overview:
NIIT is showing a strong Double Bottom reversal pattern on the daily chart — a classic signal of potential trend reversal from bearish to bullish.
After bouncing from the major support zone near ₹105, the price has broken out above the neckline (around ₹133.5) on strong volume, indicating bullish conviction.
🔑 Key Technical Levels:
🔵 Resistance Levels:
₹159.70
₹171.50
🔴 Support Levels:
₹133.50 (neckline retest zone)
₹127.90 (minor support)
₹105.00 (base support)
📈 Breakout Confirmation:
Price has broken above the neckline with a high volume spike, confirming the double bottom breakout.
Next targets lie in the ₹159–₹171 range, aligning with previous supply zones.
📊 Volume & Price Action Notes:
Recent bullish candles with above-average volume
Potential retest of neckline could offer a favorable risk-reward entry
🧠 Bias: Bullish (as long as price holds above ₹133.5)
📌 Chart Indicators Used:
📉 Volume Spike confirmation
🔃 Double Bottom Pattern
🔍 Key S/R Levels marked
📍 Entry/Target Path projection with arrow
⚠️ Disclaimer: This analysis is for educational purposes only and not financial advice. Please DYOR before making trading decisions.
📈 Follow for more actionable chart patterns | PriceAction_Pulse
💬 Drop a comment if you're tracking NIIT!
Trade closed: stop reached
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.