NIFTY Breakout Alert: Bullish Pennant Pattern on the 1H Chart

NIFTY This chart highlights a classic bullish pennant pattern forming on the NIFTY 1-hour time frame. After a strong upward rally, NIFTY consolidated in a converging triangle, setting up for a potential breakout. The breakout above the pennant signals a strong continuation of the uptrend, with the measured move target projecting significant upside. Watch for sustained price action above 26,037.60 for bullish confirmation. The pattern remains valid unless there is a 15-minute close below the key support at 25,700 which would turn the outlook bearish. This idea provides actionable levels for traders to plan entries and manage risk.