🚨 Nifty 50 Breakout Incoming? | Symmetrical Triangle on 15-min Chart.
NIFTY is consolidating within a symmetrical triangle pattern on the 15-minute chart — a classic setup that often leads to a strong breakout or breakdown.
📊 Chart Setup:
Pattern: Symmetrical Triangle (Neutral)
Price Action: Compressing between rising support & falling resistance
View : Price nearing the tip — breakout imminent
✅ Bullish Scenario:
Breakout above 24,541
Targets: 24,666 → 24,737
✅ Watch for volume confirmation and follow-through candles
❌ Bearish Scenario:
Breakdown below 24,383
Targets: 24,186 → 24,041
❗ Confirm with a breakdown candle + failed retest
🔑 Key Support & Resistance:
Resistance: 24,541 | 24,666 | 24,737
Support: 24,383 | 24,186 | 24,041
📌 Note: Symmetrical triangles are neutral patterns. Wait for a confirmed breakout/breakdown with strong volume before entering a trade.
NIFTY is consolidating within a symmetrical triangle pattern on the 15-minute chart — a classic setup that often leads to a strong breakout or breakdown.📊 Chart Setup:
Pattern: Symmetrical Triangle (Neutral)
Price Action: Compressing between rising support & falling resistance
View : Price nearing the tip — breakout imminent
✅ Bullish Scenario:
Breakout above 24,541
Targets: 24,666 → 24,737
✅ Watch for volume confirmation and follow-through candles
❌ Bearish Scenario:
Breakdown below 24,383
Targets: 24,186 → 24,041
❗ Confirm with a breakdown candle + failed retest
🔑 Key Support & Resistance:
Resistance: 24,541 | 24,666 | 24,737
Support: 24,383 | 24,186 | 24,041
📌 Note: Symmetrical triangles are neutral patterns. Wait for a confirmed breakout/breakdown with strong volume before entering a trade.
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