Nifty Bank Index

Chart Observations:
Pattern:

Price has been forming lower highs, suggesting a descending trendline resistance.

There's a visible breakout attempt above this trendline now.

Support Zone:

Strong demand zone between 46,800 – 48,000, which was respected multiple times.

Indicators:

RSI is near the overbought zone, but not showing divergence.

Volume has spiked on the breakout – bullish confirmation.

Heikin Ashi candles are strongly green – good momentum.
✅ Bullish Scenario (If breakout holds):
Entry Zone: On retest of the breakout trendline (around 51,500–52,000).

Target Levels:

Short-term: 53,500

Medium-term: 55,000–56,000

Stop Loss: Below 50,500
❌ Bearish Scenario (If breakout fails):
Invalidation Level: If it closes back below the trendline with high volume.

Re-entry zone: Watch the 48,000 support area again.

Short Target (if breakdown from support): 46,000–45,000

Swing Traders: Wait for a pullback toward the trendline and enter on bullish confirmation.

Positional Traders: Enter partially now, add more on pullback confirmation.

Risk Management: Keep positions light until breakout is fully confirmed.