BANKNIFTY Descending Channel Breakout Alert – Targeting 57450+

The chart displays a descending channel breakout in the Bank Nifty Index on the daily timeframe. After months of consolidation between a downward sloping resistance and support trendline, a strong breakout has been observed.

🔺 Resistance Zone (Red Channel)

• Multiple rejections along the red downward sloping trendline marked as Resistance.
  
• The breakout candle has successfully closed above this zone, confirming a bullish breakout.
  

🔻 Support Zone (Green Channel)

• Historically strong buying zones identified at the green support trendline.
  
• Each dip toward this line was followed by a bullish move.
  

📈 Breakout Confirmation

• The price has broken out of the resistance channel, and the breakout zone is highlighted with a black circle.
  
• The pattern height is used to estimate potential upside targets post-breakout.
  

🎯 Target Levels Post-Breakout

• Initial Target: 53,950+
  
• Next Target: 55,450+
  
• Projected Final Target: 57,450+
  

(Calculated by adding the pattern height to the breakout level)

🛑 Stop Loss Strategy
A strict stop loss is placed below 51,450, to manage risk in case the breakout fails.