📉 Bank Nifty – Double Top Breakdown: Initiate Sell Signal
The chart confirms a Double Top pattern on Bank Nifty, signaling a bearish reversal from the recent highs near ₹58,550. Both peaks faced strong rejection at this resistance, reflecting weakening bullish momentum.
🔹 Sell Signal Trigger:
Initiate short positions once Bank Nifty breaks and closes below ₹57,480 (neckline support).
This breakdown confirms pattern completion and potential start of a downward move.
📊 Trade Setup
Stop Loss: ₹58,550 (above recent highs / resistance)
Target : ₹56,370
🧭 Technical Rationale
Pattern: Double Top – Bearish reversal confirmation
Structure: Two failed attempts to cross ₹58,550 indicate selling dominance.
Momentum: Weakening buying strength visible; a neckline breakdown often triggers a short-term trend reversal.
Volume Confirmation: Look for increased selling volume on the breakdown to validate the move.
⚠️ Disclaimer
This analysis is purely for educational purposes and not a recommendation to buy or sell.
Trading involves substantial risk — always conduct your own research or consult a financial advisor before taking any trade.
The chart confirms a Double Top pattern on Bank Nifty, signaling a bearish reversal from the recent highs near ₹58,550. Both peaks faced strong rejection at this resistance, reflecting weakening bullish momentum.
🔹 Sell Signal Trigger:
Initiate short positions once Bank Nifty breaks and closes below ₹57,480 (neckline support).
This breakdown confirms pattern completion and potential start of a downward move.
📊 Trade Setup
Stop Loss: ₹58,550 (above recent highs / resistance)
Target : ₹56,370
🧭 Technical Rationale
Pattern: Double Top – Bearish reversal confirmation
Structure: Two failed attempts to cross ₹58,550 indicate selling dominance.
Momentum: Weakening buying strength visible; a neckline breakdown often triggers a short-term trend reversal.
Volume Confirmation: Look for increased selling volume on the breakdown to validate the move.
⚠️ Disclaimer
This analysis is purely for educational purposes and not a recommendation to buy or sell.
Trading involves substantial risk — always conduct your own research or consult a financial advisor before taking any trade.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.