BANK NIFTY – Target • Stop-Loss • Trend & Technical View (Based on the provided chart)
1️⃣ Overall Trend View Primary Trend (Intraday → Short term): Bearish
Price is making lower highs & lower lows
Trading below falling trendline
Sustained trade below short-term moving averages
Weak pullbacks → selling pressure on rise
2️⃣ Key Support & Resistance Levels 🔻 Support Zones Immediate Support: 59,130 – 59,100
Major Support: 59,000 – 58,950
Breakdown Support (If 59,000 fails): 58,750 – 58,700
🔺 Resistance Zones Immediate Resistance: 59,200 – 59,230
Strong Resistance: 59,280 – 59,300
Major Supply Zone: 59,400 – 59,470
3️⃣ Technical Structure Falling Channel / Descending Trendline
Price repeatedly rejected from upper channel
Breakdown below consolidation range
Volume expansion on downside → confirms weakness
No bullish reversal pattern yet
4️⃣ Trade Setup – Target & Stop Loss 🔴 SELL ON RISE (Preferred) Sell Zone: 59,200 – 59,250
Stop Loss: 59,330 (closing basis)
Targets:
T1: 59,100
T2: 59,000
T3: 58,850
👉 Risk–Reward: Favorable (1:2+)
🟢 BUY only if Breakout (Counter-trend, aggressive)
Buy only above: 59,320 (sustained)
Stop Loss: 59,150
Targets:
T1: 59,400
T2: 59,470
5️⃣ Timeframe View 🔹 Short Term (Intraday – 1-2 days) Bias remains negative
Sell on pullbacks
Volatility expected near 59,000
🔹 Medium Term (1–2 weeks) Trend remains bearish below 59,400
Only range-bound bounce possible
Strong recovery only above 59,500
🔹 Long Term (Positional) Trend neutral to negative
Market needs base above 59,000
Bullish structure only if 60,000+ holds
6️⃣ Summary Trend: Bearish
Strategy: Sell on rise
Key Level to Watch: 59,000
Below 59,000 → faster downside
Above 59,300 → short covering possible
Discipline with stop-loss is mandatory. Trade with trend for higher probability.
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