Bank Nifty (Nifty Bank Index, 2-hour timeframe)... Bank Nifty (Nifty Bank Index, 2-hour timeframe) chart, here’s the clear technical chart:
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🧭 Chart Observation
Current price: Around ₹56,800
My marked a bullish breakout from the Ichimoku cloud and an uptrend channel.
The “target point” line is drawn around ₹57,900–₹58,000 area.
Trendline support sits much lower near ₹55,700.
Cloud and Tenkan–Kijun lines both support bullish continuation.
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🎯 Target Projection
From the chart setup:
Type Target Comment
Primary (Short-term) ₹57,800 – ₹58,000 Matches my “target point” area and previous resistance zone.
Extended (if breakout continues) ₹58,400 – ₹58,600 Possible if momentum and volumes stay strong.
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📈 Suggested Trading Plan (Bullish Setup)
Entry zone: On dips toward ₹56,400–₹56,500
Target: ₹57,800–₹58,000
Stop Loss: Below ₹56,200 (below Tenkan line / minor support)
Risk–Reward ratio: ~1:2
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⚠ Notes
The trend is clearly bullish; Ichimoku cloud is providing strong trailing support.
Only if Bank Nifty closes below ₹56,200, the momentum could weaken, and support would then shift near ₹55,700 (trendline).
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✅ Final Target: ₹57,800 – ₹58,000
That’s your next major resistance / profit-taking zone according to the chart.
