The chart has formed a clear Double Top, followed by a neckline breakdown and retest rejection. This confirms a bearish technical structure.
🔻 Bearish Setup
Double Top neckline: around ₹24,000
Breakdown + retest: completed
Current price: ₹22,633
RSI: 32.67, showing strong bearish momentum.
🎯 Double Top Target:
The measured move shown on the chart projects approximately ₹18,650–₹18,700.
Key Levels:
Resistance: 24,000–24,300
Immediate support: 22,500–22,600
Next supports: 21,600 → 20,500
Pattern target: ~18,650
📌 View: As long as price remains below the broken neckline and the rising trendline, the bearish structure remains valid. A sustained reclaim above the neckline would weaken/invalidate the setup.
DISCLAIMER:
For educational and informational purposes only. This is my personal technical analysis, not financial or trading advice or a recommendation to buy/sell. Do your own research before trading. Markets involve substantial risk, and all levels, targets and setups are illustrative and not guaranteed. Trade with proper risk management and never rely solely on this analysis.
Trade with logic. Risk with discipline.
Logic Trade Room
🔻 Bearish Setup
Double Top neckline: around ₹24,000
Breakdown + retest: completed
Current price: ₹22,633
RSI: 32.67, showing strong bearish momentum.
🎯 Double Top Target:
The measured move shown on the chart projects approximately ₹18,650–₹18,700.
Key Levels:
Resistance: 24,000–24,300
Immediate support: 22,500–22,600
Next supports: 21,600 → 20,500
Pattern target: ~18,650
📌 View: As long as price remains below the broken neckline and the rising trendline, the bearish structure remains valid. A sustained reclaim above the neckline would weaken/invalidate the setup.
DISCLAIMER:
For educational and informational purposes only. This is my personal technical analysis, not financial or trading advice or a recommendation to buy/sell. Do your own research before trading. Markets involve substantial risk, and all levels, targets and setups are illustrative and not guaranteed. Trade with proper risk management and never rely solely on this analysis.
Trade with logic. Risk with discipline.
Logic Trade Room
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.