NIFTY appears to be forming a classic Cup and Handle pattern, a strong bullish continuation setup. Recently, the index successfully broke out above the handle resistance zone, confirming the pattern’s validity. Currently, it is pulling back to retest the breakout level, which often serves as a healthy consolidation phase before the next leg higher.
The measured move projection from the depth of the cup suggests a potential upside target near the 29,900–30,000 zone, representing approximately a 16–17% rally from the breakout point. The support region near 25,600–26,200 (previous resistance) will now act as a crucial demand area for bulls to defend.
If the retest holds and buying pressure resumes, NIFTY could witness renewed upward momentum, confirming the larger bullish trend continuation.
The measured move projection from the depth of the cup suggests a potential upside target near the 29,900–30,000 zone, representing approximately a 16–17% rally from the breakout point. The support region near 25,600–26,200 (previous resistance) will now act as a crucial demand area for bulls to defend.
If the retest holds and buying pressure resumes, NIFTY could witness renewed upward momentum, confirming the larger bullish trend continuation.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.