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Science Backed by Data[Bandhan Bank]: Target 326

Short
NSE:BANDHANBNK   BANDHAN BANK LTD
BandhanBank can be shorted with immediate target of 326. Below this level 303 looks to the important target below which current uptrend will be completely change.
StopLoss should be used as 342-345 above which original trend continues.
Current pull back has been on falling volumes. Although that is typical of any flag structure but this should pull it down to lower range of consolidation. This looks good setup for short term futures trade.
Pls support with likes on the idea.
Comment: First target to look for is 332-333 at opening.
Comment: First target gave 330 on opening, looks good for booking futures trade
Comment: First Target achieved 326. Very strong support here. close 50% position.
Comment: Bandhan Bank looks to be targeting towards 319.
Trade closed: target reached: Bandhan Bank short target complete at 314. 50% retracement of the original move
Comment:
Trade active: Now Buy with SL of 303 (61.8% retracement) for moveback to 326-340
Comment: 1st Target achieved, Bandhan Bank at 326
Comment: 2nd Target achieved 340. What a bazooka Trade. Super profits.
Trade closed: target reached
Comment: Profit of Rs 26 (8%) in flat 2 days on Futures lot of 1800. 46K neat profit

Comments

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