TradeTechAdvisors

ALBK : Still wait for direction

NSE:ALBK   ALLAHABAD BANK
Today ALBK has jumped up with huge volume but still trend is not clear. Weekly close above 51 would open next target of 59. 3 weeks back it had tried to close above weekly bollinger band mid line but couldn't sustain upward thrust. Today also counter tried to move past 50 on closing basis but couldn't sustain. Though volume was extraordinary but still we should wait for weekly close above 51.

If you see counter closing near 51 in Friday then can initiate long position with stop loss of 46 (daily closing) for 1st Target of 59.
Comment: Tomorrow's days is important as it is a weekly close. If you find ALBK trading abv 51 during 3-3.25 pm tomorrow, then go for buy .
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