Strong Breakout on Weekly. We now have a retracement in making. Expect retracement till Weekly KS and Bounce. Expecting target 77. I am already long on this stock, will add more on retracement.
ALBK will be short as per the chart for INTRADAY ONLY. SHORT BELOW 46.70 and use your own risk management rules to achieve TARGET as well as for SL.
ALBK is bearish engulfing and with higher than usual volumes. and Fresh Short positions initiated. SELL Alahabad Bank (ALBK) at 43.90 with Stop-loss on closing basis above 46.90 and Target 1 at 40.5 and Target 2 at 35.45
PSU Banks have been in a consistent downtrend since the rally they had after 2008 Financial crisis. This charts looks at last 10 years for PSU bank index and they seem to be following the trend line. index needs to have strong consecutive weekly close above 3350 for a major uptrend to start until then its a sell on rally. We should wait for Index to close below...
Pitchfork is catching the price movement nicely. It has broken the LML* but immediately came back into it thus showing the demand at current level. One one can take small risk of low of today as SL and buy the stock. We can expect the target of 46.80 which offers a very good risk to reward, so it looks OK to go for contra trend trade. I am not expecting a trend...
Buy ALBK above 74 T1: 80 T2: 84 T3: 88 SL: 71
After the news of recapitalization of about Rupees 2.11 Trilion for Public Sector Banks the NSE:CNXPSUBANK charts were negative to sideways consolidations, Considering this sideways movement this gives an excellent opportunity to invest in PSU BANKS. I choose NSE:ALBK you can do similar analysis in other PSU Banks as well. NSE:INDIANB has actually given a...
Possible Harmonic Patterns in Action. ABCD = PRZ 77. Butterfly = PRZ 79 - 81. Pattern Failed Below 64.15. SL Area 63. For Educational Purpose Only. I am not a SEBI Registered Financial Advisor.
Allahabad Bank has been trading in uptrend and forming a rising wedge, it touched today wedge resistance and seem to approach wedge support around 75.50 in near term.
ALbk has broken its consolidation move and also has broken its upper high !! The way Banknifty is performing, we expect psu banks to once again rally !! Keep a stop loss of 83 -- go long for 98 targets -- time : By end of september or before ! ! Bias: Personal position as well in both cash and F&O. Expecting 90 within a day or by tomorrow