Bandhan Bank: A Trend-Line Break Out?
Updated
Bandhan Bank is the last bank to move after the Covid rally, it is also right now around the Covid lows but as per the charts, it has formed a trendline( downward slopping trendline).
As the chart says it is on the verge of the Trendline break-out
Right now it has closed at 237, with 227 SL it can first go to 272 after breaking the downward slopping trendline and after that, it'll go to 340 levels.
240 to 272 level will come very quickly as the downward slopping trendline is very old and the chart has been following it for many years so the breakout from that channel will also be kind of massive on the chart.
As the chart says it is on the verge of the Trendline break-out
Right now it has closed at 237, with 227 SL it can first go to 272 after breaking the downward slopping trendline and after that, it'll go to 340 levels.
240 to 272 level will come very quickly as the downward slopping trendline is very old and the chart has been following it for many years so the breakout from that channel will also be kind of massive on the chart.
Trade closed: stop reached
Not Trading as expected still more down moves to come in future.
Avoid as of now.
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