BANDHAN BANK LONG Setup Explained : Potential Breakout

BANDHANBNK

• Stock is in a healthy uptrend
  
• The resistance has now turned support
  
• Stock is in a Range and has the potential to bounce off the support area after consolidation
  
• A close above 356 on Daily or Hourly timeframe followed by a closing green candle should trigger LONG position
  
• Stop Loss of 290-292 is advised
  

Trade active:

Price has closed below major support area and overall Banking Index has taken a major HIT. Stock showing some signs of recovery. Key is to watch whether it will breakout of 320 levels or will it be a retest and breakdown. That will decide my next move... Happy Trading