praveen.bhatiya
Long

Bullish 3 Drives pattern

NSE:ALBK   ALLAHABAD BANK
The bullish three drives pattern offers a potential reversal point for a bearish market after forming three consecutive bottoms. The symmetry is very important for this pattern and its clearly visible in this case. Although the stock has already reacted from the third bottom but yesterday news based pull back could be used to enter the stock.
Entry : 69.75
Stop Loss : 68.30 (closing basis)
Target : 77.50
Risk to reward ratio : above 7
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