12016 has been established as a decent resistance by NIFTY FINSERV (owing to the heavy consolidation around the range on 21st Oct).
An Ascending triangle pattern can be drawn over the chart with the top at 12016 levels.
However, if the Gap-up opening on 23rd Oct is to be neglected, then it could also be a simple triangle pattern with a tilted top as opposed to a...
NIFTY REALTY on 20th Oct gave the long-awaited triangle breakout followed by a quick attempt to break the resistance at 239-240 levels. This was rejected and then it fell into a channel consolidation (descending) since 22nd Oct.
Possible breakout/down confirmation levels
Breakout - 237.15
Breakdown - 233.9 (Aggressive), 232 (Conservative)
Just a Beginner trying...
The BANKNIFTYs attempt on 21'st Oct to break 24815 was rejected and it seems to have fallen into a Triangle consolidation since.
A possible breakout or down could be confirmed at following levels
Breakout - 24600 (Aggressive), 24693(Conservative)
Breakdown - 24375(Aggressive), 24290(Conservative)
Just a beginner trying to get the hang of the whole pattern...