Rising Wedge Breakdown — 54,252 in Sight?#BankNifty View:
CMP: 56,528
BankNifty has broken down from a Rising Wedge pattern — a bearish signal. After a brief retest of the breakdown level, price has resumed its downward move. Daily close below 56,205 will gather fresh momentum.
🔑 A daily close below 56,205 could trigger fresh downside momentum.
🔻 Support Zones:
• 56,283 – 56,080
• 55,580 – 55,530
• 🔑 Key Supports: 54,470 – 54,375 & 53,600 – 53,580
🔺 Resistance Zone:
• 57,312 – 57,365
🎯 Pattern Target: 54,252
This aligns with the key support zone at 54,470 – 54,375 , strengthening its significance.
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
#TechnicalAnalysis | #PriceAction | #RisingWedge | #ChartPatterns
