NIFTY 50 Bearish Breakdown Below Rising ChannelNifty 50 IndexNSE_DLY:NIFTYSMART_MONEY_CIRCLEThe chart shows the NIFTY 50 Index on a 30-minute timeframe with an Ichimoku Cloud overlay. On the left, a rising wedge/expanding triangle pattern (highlighted in green) formed and eventually broke down, leading to a significant decline. On the right, price created a rising channel (red parallel trendlines) and then broke below the lower trendline, signaling bearish momentum. The breakdown is reinforced by: Price falling below the Ichimoku Cloud. The cloud turning bearish (red future cloud). Strong bearish candles showing increased selling pressure. Current price is around 23,531.90. Target: The chart projects a downside move to approximately 23,240.90. This implies a bearish target of roughly 291 points below the current level. Summary: The chart indicates a bearish trend continuation setup, with the breakdown from the ascending channel and weakness below the Ichimoku Cloud suggesting a potential move toward 23,240.90 as the next downside target. A recovery back above the broken channel and cloud resistance would weaken this bearish outlook.