Bank Nifty – Double Top Pattern Analysis

📉 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.