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POLYPLEX – Technical & Fundamental SetupPOLYPLEX is currently taking support near its long-term demand zone of ₹790–₹760, which has historically acted as a strong support band. Recently, the stock once again respected this zone, indicating strong buying interest at lower levels. On the charts, POLYPLEX has formed a clear double bottom pattern near this support area, which is a classic trend-reversal signal after a prolonged corrective phase. This pattern suggests that selling pressure is getting exhausted and buyers are gradually regaining control. From a fundamental perspective, FII stake increased in the last quarter, which adds confidence to the technical setup and reflects institutional accumulation at lower levels. This alignment of technical support + reversal pattern + FII interest strengthens the bullish case. Overall, the price action indicates that the worst phase for the stock may be over, and a gradual recovery move can be expected if the support zone continues to hold. Trade Plan: Buy: Near current levels (As close as 780) Stop Loss: ₹780 Target: ₹1000 A decisive close below ₹780 would weaken the structure, so strict stop-loss discipline is advised. Trade with proper risk management.
NSE:POLYPLEXLong
by ChartsBySachin
KANSAINER – Technical SetupKANSAINER has formed a classic double bottom pattern near the ₹220 zone, which has acted as a strong and reliable support on the charts. The pattern indicates strong demand emerging at lower levels and a possible trend reversal. The stock has already confirmed the breakout above the neckline of the double bottom. After the breakout, price has retraced back toward the breakout zone, which is a healthy sign and often provides a low-risk entry opportunity. The retracement has been well-controlled, indicating that selling pressure is limited and buyers are defending higher levels. Overall structure suggests a favorable risk–reward setup as long as the key support holds. Trade Plan: Buy: ₹230 Stop Loss: ₹220 Target: ₹250 A close below ₹220 would invalidate the setup; hence strict stop-loss discipline is advised. Trade with proper risk management.
NSE:KANSAINERLong
by ChartsBySachin
Coal India – Technical SetupCoal India has been trading in a healthy consolidation range over the last few sessions, indicating absorption of supply and steady accumulation by buyers. The price action suggests that the consolidation phase is now maturing, often a precursor to a directional move. The stock has managed to hold above its key short-term support zones during this phase, reflecting strength and stability in the structure. With consolidation nearing completion, Coal India appears poised for a potential upside breakout, provided it sustains above the current range. Momentum indicators are gradually turning positive, supporting the possibility of a fresh bullish leg once buying interest picks up. Trade Plan: Buy: ₹390 (After some pullback) Stop Loss: ₹370 Target: ₹430 A close below ₹370 would invalidate the setup, so strict stop-loss discipline is advised. Trade with proper risk management.
NSE:COALINDIALong
by ChartsBySachin
ITC – Technical SetupITC is showing a strong technical structure near the ₹400–₹395 zone, which is acting as a solid support area on the charts. The stock has tested this zone multiple times and has managed to hold, indicating strong demand at lower levels. Over the last several sessions, ITC was trading in a tight consolidation range, reflecting accumulation. Today’s close above this multi-day consolidation is a positive sign and suggests a potential breakout, with momentum now shifting in favor of the bulls. The price action indicates that buyers are gaining control, and as long as ITC sustains above the breakout level and the support zone remains intact, the setup looks favorable for an upside move. Trade Plan: Buy: As close as 395 Stop Loss: ₹395 Target: ₹425 A close below ₹395 would weaken the structure, so strict stop-loss discipline is advised. Trade with proper risk management.
NSE:ITCLong
by ChartsBySachin
3
RVNL – Technical Setup Analysis RVNL has been in a sustained downtrend over the past few weeks, marked by consistent lower highs and lower lows. Recently, the selling pressure has started to fade near the ₹300 zone, leading to price stabilization and consolidation. On the daily chart, ₹300 has emerged as a very strong support level, as the stock has repeatedly taken support from this zone in the past. This level also coincides with earlier demand areas, making it a high-probability support region. The stock has now broken above the falling trendline, indicating a potential trend reversal or pullback rally after a significant correction. The breakout is accompanied by improving price structure and better momentum, suggesting renewed buying interest. RVNL is also trading above its short-term moving averages, reflecting strength returning to the bulls. As long as the stock sustains above the breakout zone and the ₹300 support holds, the technical setup remains positive. Risk Management: Stop Loss: ₹300 (strict daily/weekly closing) A decisive close below ₹300 would invalidate the bullish setup; strict stop-loss discipline is advised. Trade with proper risk management.
NSE:RVNLLong
by ChartsBySachin
DAX breaking 7-month consolidationDAX Weekly Outlook – Consolidation Breakdown in Progress The DAX has been moving in a broad 7-month consolidation range, showing neither a clear uptrend nor a downtrend. Such long consolidations often act as distribution zones, where smart money gradually exits positions before a larger move begins. Consolidation Breaking on the Downside This week, the index is attempting to break below the lower boundary of this consolidation range. A downside break after months of sideways action is usually a strong bearish signal, especially on higher timeframes like the weekly chart. Key Level – 23,000 The 23,000 zone is the critical level to watch: If the DAX gives a weekly close below 23,000, And we see follow-up selling next week, …then it would strongly suggest that the distribution phase is complete, and the index may begin a sustained downward journey. What This Means A confirmed breakdown from multi-month consolidation often leads to: Increased volatility Trend acceleration Deeper corrections toward the next major demand zones For now, the weekly close will be crucial. A weak closing would confirm bearish sentiment and open the path for further downside.
XETR:DAXShort
by ChartsBySachin
Bearish Signal in Dow Jones: Will 45,000 Hold?Dow Jones Analysis – Bearish Signal Emerges The Dow Jones Industrial Average (DJI) has shown signs of weakness over the past couple of sessions. On Tuesday, the index formed a shooting star candlestick pattern — a classic reversal signal that often indicates exhaustion in the uptrend. Yesterday, the shooting star was confirmed by a follow-up bearish candle, which strengthens the case that a short-term top may be in place for the index. This suggests that buyers are losing control, and sellers are stepping in at higher levels. Key Support Zone – 45,000 The immediate and crucial support for DJI is placed around 45,000, a level that has held strong in the past. However, the index is now testing this zone again, and the price action shows clear weakness. Trend Breakdown Adds to Bearish Bias Looking at the chart, the trendline support is also at risk of breaking. If the index fails to hold 45,000 decisively, this breakdown could open the door for deeper correction, leading to further downside targets in the short term. Conclusion Bearish pattern confirmed: Shooting star + follow-up candle. 45,000 is key support: A breakdown here confirms bearish momentum. Short-term top likely: Weakness could extend further if supports fail. 📉 For now, traders should stay cautious on DJI until it either reclaims higher levels or establishes fresh support below.
TVC:DJIShort
by ChartsBySachin
Maruti Hits the Brakes ?🚗 Maruti Hits the Brakes: Bearish Engulfing Signals a Possible Correction Ahead! Maruti Suzuki has been one of the strongest performers in the market since August 2025, rallying nearly 35% in just two months 📈. The uptrend was further boosted after the GST cut reform, which led to a huge gap-up opening. From there, the stock followed a clear trendline support, steadily moving higher week after week. But now, the charts are flashing caution signals ⚠️: ✨ 1. Daily Chart View On 29th September 2025, Maruti formed a bearish engulfing candle. This isn’t just an ordinary candle — it engulfed the previous four trading sessions’ candles, showing strong selling pressure. Such a large engulfing candle often signals a trend reversal, especially after a sharp rally. 📅 2. Weekly Chart View (Bigger Picture) For the past 8 straight weeks, Maruti delivered green candles — a remarkable bullish run. This week, the weekly chart is also showing the formation of a bearish engulfing pattern (although two days remain for confirmation). If this pattern holds at the close, it would indicate that momentum has shifted from buyers to sellers. 📌 3. Trendline Break The uptrend since August was guided by a well-respected trendline. This trendline now appears to be broken, which adds further confirmation that the bullish momentum has weakened. ⚖️ 4. What This Means 🔻 Bearish Signal: A strong bearish engulfing candle after a steep rally is a textbook sign of a potential correction. ⛔ Trendline Broken: Losing the trendline suggests the uptrend structure is failing. 📉 Correction Likely: After a 35% run-up, profit booking and a healthy pullback seem due. 👉 Summary Maruti’s spectacular run since August may have finally hit a wall. With a daily bearish engulfing candle, a trendline breakdown, and the weekly bearish engulfing pattern forming, the probability of a correction is high. Disclaimer:- I have a short position on the Stock. #Nifty #StockMarket #stockmarketsindia #SachinCharts #stockmarketcrash #Epic202426 #SachinStockChart #Maruti #Auto #SachinStockAnalysis
NSE:MARUTIShort
by ChartsBySachin
2
ETERNAL (Zomato): Breakdown Below Trendline ETERNAL (Zomato) had been on a strong bull run since April 2025, rallying from ₹195 to ₹344 🚀. Throughout this journey, the stock consistently respected an upward trendline, bouncing every time it touched the line. But things changed on 26th September 2025: ❌ The stock broke down below the trendline support for the first time. After the breakdown, it reached a low of ₹320, signaling that the structure had become weak ✨ 1. Trendline Signals (Daily Chart) If we connect all the key highs of September 2024, December 2024, August 2025, and September 2025, we obtain a resistance trendline. Recently, the stock gave a breakout above this trendline, but it failed to sustain and quickly slipped back below it. This false breakout followed by weakness is often a bearish signal ⚠️. 📅 2. Short-Term View Right now, the stock is hovering near ₹320, a critical support level. If ₹320 breaks decisively, the weakness will get confirmed, and the stock may head toward: 🎯 ₹310 🎯 ₹300 (short-term target zone). Until then, some retracement or sideways movement may happen, but the overall bias is weak. 🕰️ 3. Weekly Chart View (Bigger Picture) Last week, the stock formed a bearish engulfing candle, where the body of the red candle completely covers the body of the previous green candle. This pattern is a reversal signal, showing sellers overpowering buyers. If this week’s close is below ₹320, it will confirm the bearish engulfing pattern ✅, adding further weight to the downside scenario. 📌 Summary: 🔻 Weakness Detected: Breakdown of trendline + false breakout on resistance. ⚠️ Confirmation Needed: Closing below ₹320 will confirm bearish engulfing and continuation of weakness. 🎯 Targets: If ₹320 breaks, next levels are ₹310 and ₹300. 🛡️ If ₹320 holds: Stock may bounce, but the overall structure remains fragile.
NSE:ETERNALShort
by ChartsBySachin
ICICI Bank Under Pressure: Breakdown Could Open ₹1,360–1,340ICICI Bank has been exhibiting persistent weakness over the past few sessions, underperforming relative to the broader market and showing clear signs of profit-booking. Despite being one of the stronger banking names in the past, the stock has recently struggled to sustain upward momentum, reflecting near-term bearish undertones. Currently, ICICI Bank is trading around a crucial support band of ₹1,400–1,390. This zone has historically acted as a strong base, where buying interest has emerged in the past. However, repeated testing of this support without a meaningful bounce raises concerns about its sustainability. A decisive breakdown below ₹1,390 could accelerate weakness and potentially drag the stock towards ₹1,360 and ₹1,340 levels, which are the next major support zones. These levels are important markers that could determine the medium-term trend. On the upside, for sentiment to improve, the stock must sustain above ₹1,400–1,420 with strong volumes. Until then, caution is advised, as the undertone remains weak, and any breakdown may invite further selling pressure.
NSE:ICICIBANK
by ChartsBySachin
Bajaj Finance: Breakout, Retest & What’s Next?Bajaj Finance has been in focus ever since it broke its long-term resistance zone of ₹870–₹880 on 12th September 2025. This breakout was significant because the stock had been struggling to cross this level for a long time. Once it crossed, the stock quickly rallied and touched a high of ₹1036 🚀. But the story has taken an interesting turn in the last two weeks. Let’s break it down in detail: ✨ 1. Weekly Chart View (Bigger Picture) A shooting star candle formed last week. This is a bearish reversal pattern that occurs when the price moves higher but closes near the lows, showing that sellers took control. This week, once again, a second shooting star appeared, and what’s more important is that it closed lower than last week’s close. This back-to-back formation is a strong sign that buyers are losing momentum and sellers are active at higher levels. 📅 2. Daily Chart View (Short-Term Action) After the breakout above ₹870–₹880, the stock pulled back and is now retesting this breakout zone. This level is crucial because: It is a classic breakout-retest scenario. The same zone also coincides with a trendline support, adding strength to this level. If the price bounces from this zone, it will confirm the breakout as valid and can lead to another leg up. 📌 3. Key Levels to Watch Strong Support: ₹870–₹880 (breakout + trendline support). Upside Potential: If the stock holds above this zone, it can retest ₹1000+ levels in the short-to-medium term. Downside Risk: If the stock decisively breaks below ₹870–₹880, then the structure weakens, and the stock can slip towards ₹900 or even lower. ⚖️ 4. Market Sentiment & Interpretation Two weekly shooting stars show weakness and profit-booking at higher levels. But since the stock is still above the breakout zone, bulls still have a chance to defend the trend. The coming sessions are critical — holding above 870–880 means bulls are in control, but if broken, sellers will dominate. 👉 Summary 🔻 Weakness spotted: Two weekly shooting stars confirm selling pressure. 🛡️ Support zone (₹870–₹880): This is the line in the sand for bulls. ⚠️ If broken: A medium-term fall toward ₹900 (or lower) is likely. 🚀 If defended: The stock can bounce and resume its upward journey, possibly retesting ₹1000–₹1036.
NSE:BAJFINANCE
by ChartsBySachin
2
The Dollar’s Journey💵 The Dollar’s Journey – From Blastoff to Pause, and Maybe… Another Run? Back in May 2021 , the Dollar Index (DXY) quietly started climbing. At first, nobody gave it much thought. But then 🚀 it took off—running from 89 to 114 in just over a year. That’s what traders call a parabolic move —fast, powerful, and impossible to ignore. Then came September 2022 . The rally cooled off. The dollar stopped sprinting and instead moved sideways. For the next three years , it was all about patience. The index slipped as low as 95.5 , testing everyone’s nerves. Was the bull run dead, or just taking a breather? ⏸️ Here’s the twist: that low wasn’t random. It actually landed right on a major long-term trendline —a line that connects the tops of 2001, 2016, and 2020 . In other words, the dollar was pulling back to recharge at home base . 📉➡️📈 Now the picture gets exciting again. The correction looks done. The index is knocking on the door of 100 —and this number isn’t just psychological, it’s technical too. If DXY sustains above 100 ✅ , it could light the fuse for the next bull run 🐂💵 . And remember, when the dollar moves, the world feels it: * 📉 Global equities, especially emerging markets, often struggle. * 🛢️ Commodities like gold and oil usually come under pressure. * 💱 Other currencies—the euro, yen, pound—tend to weaken. So here we are, three years after the peak. The dollar looks ready to decide its next chapter. Will it stay stuck in consolidation… or break out into a brand-new bull cycle? Traders, investors, and even governments are watching closely. 👀 The story of the dollar isn’t over—it might just be about to get interesting again. 📊✨
TVC:DXYLong
by ChartsBySachin
Nifty weak after failed retest – Key supports at 24,900–24,800📉 Nifty Outlook – Breakdown After Failed Retest Nifty tried to retest the breakout zone of 25,150–25,250, but failed to hold above it. This rejection has shifted the structure towards weakness, and the index may now revisit crucial lower levels. 🔴 Failed Retest – A Bearish Signal The zone of 25,150–25,250 was earlier acting as a breakout area. A successful retest would have confirmed strength for higher levels. However, Nifty failed to sustain, which indicates that buyers are losing control near this resistance. 📉 Next Support – Trendline Breakout Zone The immediate support lies in the 24,900–24,800 band, which coincides with the earlier trendline breakout zone. If Nifty can stabilize here, a short-term bounce may still be possible. ⚠️ Deeper Downside Risk If the 24,900–24,800 zone is broken on the downside, then the structure opens up for a deeper correction. In such a case, levels of 24,500–24,300 become very much possible in the coming sessions. ✅ Summary Resistance rejected at 25,150–25,250 Weakness likely unless Nifty reclaims this zone Supports at 24,900–24,800, below which 24,500–24,300 may come into play.
NSE:NIFTY
by ChartsBySachin
DAX Breaks H&S Pattern – Eyes 22,300–22,200🔎 Chart Setup DAX has given a breakdown of the Head & Shoulders pattern on the daily chart. This is a strong bearish reversal pattern, usually signaling further downside. ⚖️ Downside Targets With the breakdown confirmed, the pattern target lies in the 22,300–22,200 zone. As long as 24,000 (on a closing basis) is not reclaimed, the bearish bias remains intact. 🔄 Retest Scenario After such breakdowns, it’s common for the index to retest the neckline. In this case, a pullback up to 23,700 is possible before resuming the downward move. ✅ Summary DAX has entered a bearish phase after breaking down from the Head & Shoulders pattern. Unless it closes back above 24,000, the path of least resistance remains down toward 22,300–22,200.
XETR:DAXShort
by ChartsBySachin
Chart Analysis – Bajaj Finance LtdThe stock was trading inside a rising channel for a long time but eventually broke down from it. After the breakdown, a retest of the broken support trendline was observed, confirming weakness. Currently, the price is struggling near the ₹890–₹900 zone, which is acting as a resistance. The critical support lies around ₹850. ⚠️ If the stock closes below ₹850, it will confirm further bearish momentum. The next support levels open up towards ₹820–₹800, which is also a strong demand zone (green highlighted area on chart). 📌 Summary: Unless the stock reclaims and sustains above ₹900, the bias remains weak. A close below ₹850 can accelerate the fall toward ₹820–₹800.
NSE:BAJFINANCEShort
by ChartsBySachin
SBICARD at Key Level: Watch ₹780 Support, ₹830 BreakoutSBICARD is currently displaying a double bottom pattern on the daily chart — a bullish reversal setup that typically forms after a downtrend. This pattern signals that the stock is attempting to establish a strong base and could be preparing for an upward move. ⚖️ Key Levels to Watch Support Zone: As long as SBICARD holds above ₹780, the structure remains strong and the pattern is valid. A breakdown below this level could weaken the setup. Breakout Confirmation: A closing above ₹830 will serve as bullish confirmation of the double bottom breakout. Upside Targets: Once confirmed, the stock has potential to rally toward ₹860–880 levels in the short term. ✅ Summary In short, SBICARD is in a consolidation phase, attempting to break out from a double bottom. Holding above ₹780 keeps the bullish bias intact, while a breakout above ₹830 can trigger the next leg higher.
NSE:SBICARDLong
by ChartsBySachin
Nifty Eyes 25,500 if Breaks Out; Risk of 24,300 if RejectedNifty bounced strongly from the 24,450–23,350 support zone and is now approaching the 25,100–25,250 resistance band. If it sustains above this level, it will confirm a double bottom pattern and open the path toward 25,500–25,600. However, if Nifty faces rejection at this resistance, it may again slip back to test the 24,400–24,300 zone. A retracement before breaking out is also possible, so next week’s price action will be crucial. 🔹 Bullish Case Nifty bounced from the strong support zone of 24,450–23,350. Now trading near the 25,100–25,250 resistance zone. If it sustains above this band, it confirms a double bottom breakout. Upside targets will be 25,500–25,600 in the short term. 🔹 Bearish Case If Nifty fails to cross 25,100–25,250 and faces rejection, Selling pressure may drag it back toward the 24,400–24,300 support zone. A breakdown below this could extend weakness further. 🔹 Retracement Scenario Nifty may first retrace a bit lower from current levels, Then reattempt the breakout above 25,100–25,250 after retesting. This would be a healthier breakout with stronger follow-through. ✅ Summary: Next week is crucial — a sustained breakout above 25,250 is bullish, while rejection may send Nifty back toward 24,400–24,300. Retracement before breakout is also possible.
NSE:NIFTY
by ChartsBySachin
Bearish Engulfing in Maruti: Bounce or Selloff Ahead ?What happened today The daily candle is a strong bearish engulfing—today’s real body fully engulfed yesterday’s real body. That shows aggressive supply stepping in and a potential short-term reversal after the prior advance. Today’s high ₹15,250 is your invalidation: as long as the price stays below this, the bearish setup remains active. What confirms the signal tomorrow A follow-through (confirmation) candle that closes below today’s low and ideally on above-average volume. Bonus confirmation if intraday retests of the engulfing body’s mid-point get sold into (upper wicks, weak closes). Downside roadmap if confirmed A confirmed breakdown increases odds of a slide toward ₹13,600 (prior demand/congestion) and then ₹13,000 (major psychological level / deeper demand). Momentum often accelerates after an engulfing + follow-through combo; expect lower highs, weak bounces, and moving-average rollovers on shorter timeframes. Risk management / trade plan (discipline first) Trigger: Consider shorts only after confirmation—i.e., sustained trade below today’s low; avoid pre-empting if price gaps up and holds. Stop: Above ₹15,250 (setup invalidation) or above the confirmation candle’s high if that’s tighter and still logical. Targets: T1 ₹13,600, T2 ₹13,000; trail stops on lower highs to lock gains. Avoid traps: A close back inside/above half of today’s body without follow-through weakens the signal; a decisive close above ₹15,250 invalidates the view. Bottom line Bearish engulfing sets the stage; a confirmation candle tomorrow is key. If it comes, ₹13,600 → ₹13,000 opens up. If not—and especially if ₹15,250 is reclaimed—the bearish thesis is off.
NSE:MARUTIShort
by ChartsBySachin
Maruti’s Bearish Engulfing – Will We Get Confirmation?Maruti has formed a bearish engulfing candle on the daily chart today, which is a strong reversal signal when it appears after a rally. This pattern suggests that sellers have overpowered buyers. ⚖️ Importance of Confirmation A bearish engulfing pattern requires a confirmation candle (a red follow-through candle on the next day) to validate the setup. We’ve seen this before: on 4th September, Maruti also formed a bearish engulfing, but on 5th September, the follow-up candle was missing, which invalidated the bearish setup at that time. Hence, waiting for tomorrow’s confirmation is crucial to avoid a false signal. ✅ Key Levels & Targets If we get the confirmation candle tomorrow, then downside levels of ₹14,600 → ₹13,600 → ₹12,900 could unfold in the short to medium term. On the flip side, if no confirmation comes, the pattern may fail just like in early September, and the stock could remain range-bound or resume upward momentum.
NSE:MARUTIShort
by ChartsBySachin
NVDA Breaks Trendline, Eyes $155–150 SupportNVIDIA recently gave a trendline breakdown on the chart, indicating that bullish momentum has weakened. After the breakdown, the stock also retested the broken trendline from below, which is a common technical behavior — often referred to as a breakdown and retest pattern. This confirms that the broken trendline has now turned into a resistance level. ⚖️ Implications Since the retest failed to reclaim the trendline, selling pressure is likely to continue. The stock is now vulnerable to further downside and may gradually drift lower. The immediate support zone lies at $155–150, which coincides with prior demand areas where buying interest previously emerged. ✅ Key Levels Resistance (Invalidation): The broken trendline — if price reclaims and sustains above it, bearish momentum weakens. Support: $155–150 zone (short-term target area). Trend Bias: Bearish as long as the stock trades below the retested trendline.
NASDAQ:NVDAShort
by ChartsBySachin
RLMD — Breakout After 10-Month ConsolidationRLMD has finally broken out above its long-standing resistance after nearly 10 months of consolidation. The breakout is supported by good volume, which adds strength and reliability to the move. 🔑 Why This is Significant Long consolidation: When a stock trades sideways for months, it builds strong accumulation. Once price escapes the range, moves are often sharp and sustained. Volume confirmation: Breakouts on higher-than-average volume signal real demand, reducing the chances of a false breakout. Gap to fill: There’s a price gap up to $1.70. Gaps act like magnets — if the breakout holds, price often travels to fill them. 🎯 Levels to Watch Breakout trigger: $0.70 → needs to sustain trading above this level. Immediate targets: $1.40 → $1.70 (gap-fill). Invalidation: A daily close back below $0.70 would signal a failed breakout and likely return to consolidation. ✅ Conclusion As long as RLMD holds above $0.70, bias stays bullish with a possible gap-fill move toward $1.70. Traders should watch for retests of $0.70 acting as support, along with continued volume confirmation.
NASDAQ:RLMDLong
by ChartsBySachin
1
Head & Shoulders on DAX Daily Chart – Watch for BreakdownThe DAX index is currently forming a Head and Shoulders pattern on the daily chart, a well-known bearish reversal formation. This pattern typically signals a potential shift in trend from bullish to bearish if the breakdown occurs. Left Shoulder – Formed when prices peaked, followed by a correction. Head – A higher peak, marking the top of the uptrend, followed by another decline. Right Shoulder – A lower high compared to the head, showing weakening bullish momentum. Neckline – The key support line connecting the lows between the shoulders and the head. ⚖️ Implications If the DAX breaks below the neckline with strong volume, it will confirm the pattern. This breakdown could trigger further downward momentum, with potential targets calculated by measuring the distance from the head to the neckline and projecting it downward. ✅ Summary Pattern: Head & Shoulders (bearish) on daily chart. Trigger: Breakdown below the neckline. Outcome: Increased probability of further decline, with downside targets extending to lower support zones.
XETR:DAXShort
by ChartsBySachin
Long Term View on Bank NiftyRising Wedge Pattern (Bearish Setup) The red trendlines form a rising wedge, which is typically a bearish pattern. After years of an uptrend, the index has near its support from the wedge. Current Position (53,655) Bank Nifty has corrected sharply in the last few days/weeks and is now trading around 53,600 levels. The immediate support marked on the chart is around 53000. If this breaks, further downside could open. Key Support Levels 50,600 – first crucial support. 48,000–47,500 zone – next major support if selling extends. 32,448 – long-term support marked, aligns with pre-COVID breakout levels. Possible Scenarios (Green & Red Arrows on Chart) Bullish case (green path): If Bank Nifty stabilizes near 53,000-52,500 and reclaims 55,000+, it can attempt a bounce. Bearish case (red path): Sustained breakdown below 53,000-52,500 could accelerate fall towards 48,000 -47,500, and in extreme bearishness, even 32,500 over the medium term. ⚖️ Interpretation The structure suggests weakness after a long rally; if the wedge breakdown happens, then a trend reversal could happen. The next 1–2 weeks will be crucial: holding 53,000-52,500 may trigger a bounce, but a breakdown could confirm a deeper correction.
NSE:BANKNIFTY
by ChartsBySachin