Falling Wedge Breakout with Bullish Momentum | 15-Min Chart

5 Mei

🏦 BANK NIFTY – Falling Wedge Breakout with Bullish Momentum | 15-Min Chart
📅 Date: May 5, 2025
📈 Timeframe: 15-Minute
🔍 Instrument: Nifty Bank Index (NSE)

📌 Technical Overview:
Bank Nifty is currently showing signs of a short-term bullish reversal on the 15-minute chart. The index formed a classic falling wedge pattern, which is typically seen before upward price moves. A recent breakout attempt is seen from the wedge structure, supported by steady green candles and slight volume recovery.

🧩 Chart Pattern:
The Falling Wedge is marked by two converging green trendlines.
Inside the wedge, the price made lower highs and lower lows, forming a compact structure.
The breakout leg is forming with strength and is approaching a tested supply zone around 55,350–55,450.

🔍 Key Price Levels:
Support Zone: ~54,800 (Lower boundary of the wedge)
Immediate Resistance: ~55,350 (Tested supply zone)
Current Market Price (CMP): 55,001.65
If the price sustains above 55,070 and breaks out with volume, we may see bullish continuation toward 55,350–55,600.

📊 Volume Analysis:
Volume remained low during the wedge formation – a healthy sign.
A volume breakout confirmation is awaited.
Keep an eye on a green volume bar spike as price crosses wedge resistance.

🧠 Observational Bias:
As long as price holds above 54,800, the short-term bias remains bullish.
A successful retest of the breakout zone or a strong close above 55,070 with volume may offer a high-probability intraday opportunity.

📌Note: Traders can wait for a confirmation candle (close above wedge) before entering.
Risk management is key—keep stop loss below 54,800.

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54,800 breached