Flag breakout inside a long-term rising channel
NIFTY spent the last few months in a falling/sideways range (highlighted box) within a larger rising channel.
Price has broken out on the upside and is pushing above the box top / local supply.
A classic measured-move from the height of the box projects ~3,650–3,700 pts higher, aligning with the upper channel—pointing to ~29,400–29,600.
Why it works
Structure alignment : Local flag breakout with the primary up-channel.
Confluence : Measured move ≈ upper channel touch, giving a logical exhaustion zone for profit-taking.
What can go wrong
False breakout : Quick rejection and close back under 25,700.
Macro/event risk : Gap moves around data/events can bypass stops—position accordingly.
Bias: Bullish while above 25,700 on daily closes.
This is a technical study for educational purposes, not investment advice. Manage risk.
