BANKNIFTY FUTURES – TARGET • STOP LOSS • TREND ANALYSIS (Based on the shared chart)
🔹 Current Market Structure Trend: Short-term bullish breakout from a falling wedge / expanding triangle
Price Action: Strong impulsive move from ~59,500 to ~59,700
Momentum: Buyers in control above breakout zone
🔹 Key Technical Levels Support Zones
S1: 59,600 – 59,580 (Immediate demand & breakout retest zone)
S2: 59,520 – 59,500 (Intraday base)
S3: 59,400 (Trend invalidation level)
Resistance Zones
R1: 59,780 – 59,800 (Immediate supply / profit booking)
R2: 59,880 – 59,950 (Upper channel projection)
R3: 60,050+ (Only if strong follow-through)
🔹 Trade Setup – Which Side Makes Money? ✅ BUY SIDE (Preferred) Reason:
Price has broken above pattern resistance
Higher high & higher low structure
Retest holding above rising trendline
Buy Zone
59,650 – 59,700 (on minor dip or consolidation)
Targets
🎯 Target 1: 59,780
🎯 Target 2: 59,880
🎯 Target 3: 59,980 – 60,050 (only with volume)
Stop Loss
🛑 59,520 (Closing basis)
Aggressive SL: 59,580
➡️ Risk–Reward: Favorable (1:2 / 1:3)
❌ SELL SIDE (Only if this happens) Sell is NOT preferred now. Short trades only if:
Price fails below 59,580
Breakdown with volume below trendline
Sell Below
59,560
Targets
🎯 59,450
🎯 59,350
Stop Loss
🛑 59,680
🔹 Technical Indicators (Chart-Based) Trendline: Upward sloping → bullish bias
Pattern: Breakout from consolidation → continuation likely
Volume behavior: Expansion on upside move (positive sign)
Market Psychology: Short covering + fresh longs
🔹 Final Verdict 📈 Trend Bias: BUY ON DIPS
💰 Money Side: BUY SIDE
⚠️ Avoid fresh shorts unless breakdown occurs
📌 Trail stop loss once above 59,780
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