PAGEIND M PATTREN BREAKDOWN 31 01 2026

📈 1) Pageind Pattern Structure: M-Pattern / Double Top
An M-Pattern (Double Top) is a bearish reversal pattern with the following components:
Left Top → Right Top ≈ equal highs
Neckline → horizontal support connecting the swing lows between tops
Breakdown → close below the neckline confirms the pattern
CHART LINES :
🔴 Double Top Peak (Both Tops): ~50500
🟢 Neckline / Base Low: ~34000
Support Line : ~17600
👉 This creates a classic M-Pattern.

2) Price Projection (Measured Move)
Calculation: Percentage Move from Neckline to Bottom Target
Top: 50,500
Neckline: 34,000
The distance from Top to Neckline is: 50,500 − 34,000 = 16,500
Measured from the neckline downward, the target projection is:
34,000−16,500=17,500
Your next major support is ~17,600, which is almost exactly the measured move target.
Now, calculate the % move from Neckline (34,000) to Target in downside (17,600):
34,000−17,600
So:
✅ Projected target from neckline to support ~17,600 ⇒ ~48% decline
📊 3) Daily Breakdown Confirmation
I noted that the last two days have broken down below the neckline:
A close below neckline signals a confirmed breakdown