Bandhan Bank: Momentum Builds, Can It Break Resistance?
Updated
Technical Analysis of Bandhan Bank:
Bandhan Bank is currently in an accumulation phase, characterized by relatively high trading volumes. The stock is showing strong weekly momentum, suggesting potential upward movement. Key resistance levels have been identified, with Resistance 1 at 258 and Resistance 2 at 345. However, with the Nifty index trading at its peak, a broader market correction could make these targets harder to reach in the near term.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Bandhan Bank is currently in an accumulation phase, characterized by relatively high trading volumes. The stock is showing strong weekly momentum, suggesting potential upward movement. Key resistance levels have been identified, with Resistance 1 at 258 and Resistance 2 at 345. However, with the Nifty index trading at its peak, a broader market correction could make these targets harder to reach in the near term.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Order cancelled
Stock still needs to correct. This setup was provided a little too early. Overlook Bandhan Bank for now.
Disclaimer
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