MarketsWithKR

Bandhan Bank is shaping up to be a good long

Long
NSE:BANDHANBNK   BANDHAN BANK LTD
Experimenting with Bollinger Bands here. We can see that price has closed above the UB and the bands have started to expand. With RSI just under 60 and price a smudge under 50DMA, NSE:BANDHANBNK could be a good momentum pick. Tomorrow's price action might validate the idea and give confirmation.

Given that this trade is based on momentum, an SL below today's low seems fair, with T1 being 334 and T2 being 351. Important to note the hurdle at 324.

Note: I already hold Bandhan Bank so my view may be biased.
Trade closed: stop reached: yesterday's low was breached. momentum gone for now. re-entry above 50DMA
Comment: Above 50DMA. Staying alert with this one now.

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