This chart represents the Bank Nifty Index (1W timeframe), showing a long-term trend with higher highs (HH) and higher lows (HL). The key observations from the chart are:
Uptrend Channel:
The price has been moving within a long-term rising channel (purple lines).
Bank Nifty has consistently formed higher highs (HH) and higher lows (HL), indicating a bullish trend.
Recent Breakdown Sign:
The latest HH shows a potential reversal with a breakdown from a short-term uptrend (yellow line).
If the price fails to sustain above the yellow trendline, a correction toward the lower boundary of the channel is possible.
Potential Correction Targets:
The orange projected path suggests a drop towards the mid/lower range of the channel.
The first major support zone is around 29,500 - 30,000 (lower trendline).
If the channel holds, the long-term uptrend may continue after a correction.
Trend Summary:
✅ Long-term Bullish but currently facing a possible correction phase.
⚠️ Break of support could trigger a deeper retracement toward the lower channel.
Would you like a deeper breakdown of key levels or alternative scenarios?
Uptrend Channel:
The price has been moving within a long-term rising channel (purple lines).
Bank Nifty has consistently formed higher highs (HH) and higher lows (HL), indicating a bullish trend.
Recent Breakdown Sign:
The latest HH shows a potential reversal with a breakdown from a short-term uptrend (yellow line).
If the price fails to sustain above the yellow trendline, a correction toward the lower boundary of the channel is possible.
Potential Correction Targets:
The orange projected path suggests a drop towards the mid/lower range of the channel.
The first major support zone is around 29,500 - 30,000 (lower trendline).
If the channel holds, the long-term uptrend may continue after a correction.
Trend Summary:
✅ Long-term Bullish but currently facing a possible correction phase.
⚠️ Break of support could trigger a deeper retracement toward the lower channel.
Would you like a deeper breakdown of key levels or alternative scenarios?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.