PSX · TEXTILE COMPOSITE · 30 Min
NML Descending Triangle forming
Nishat Mills Limited · 21 Oct 2026 · 09:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 124.45
- ▲ 1.68%
- Upper line
- 126.58
- +1.7%
- Lower line
- 121.52
- -2.4%
- ATR
- 0.97
- Target
- Invalidation
- Pattern lines
- Fair value gap (bull / bear)
- Order block
- Strong / weak high and low
- BOS · CHoCHstructure breaks
SMC Structure · Order Blocks · FVG · Pattern Detector 30 Min candles · click to enlarge
The breakdown
NML is compressing inside a descending triangle on the 30-minute chart - 5 swing points, 7.1x ATR wide at the start.
Upper line 126.58, lower line 121.52. The pattern favours a downside resolution: a 30-minute close above 126.77 confirms an upside breakout, a close below 121.33 a downside break.
Structure: bearish external, bullish internal (strong high 135.85). Nearest demand OB 121.52 - 122.80, supply OB 125.71 - 126.50.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 126.58 (+1.7%) would be an upside breakout.
- 3 A 30 min close below 121.52 (-2.4%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).