Rachit_Sethia
Long

CORPBANK -- CORPORATION BANK LONG -- Low Risk High Return

NSE:CORPBANK   None
Hello Traders & Investors,
Corporation Bank ( CORPBANK ) is having a strong potential upside. The chart explains all of it.
Firstly, The large volume traded made the prices reach the local maximum of Rs . 29+.
Then we see a flat consolidation phase.
And now finally, there is a new technical breakout.
CMP-25.55
The stock has potential to reach 35 in less than 24 candles, which would be approximately 37% returns from now.
Other than that, there are technical indicators like MACD & Stochastic explaining a good time to enter and enjoy the uptrend.
The rally might slowdown at about 29, reaching the multiple highs, but the potential is to break above the multiple tops.
Over the time it reaches and breaks above 29, we will be sure of the pattern "Head & Shoulders" and thus the Long Position fruitful.


All the best & Enjoy with the rally.
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Trade closed: target reached: Bank Merged

Comments

VERY NICE SIR IT ALSO BROKE THE 11 YEAR FOLLOWED TREND LINE WITH VOLUMES.
Reply
Rachit_Sethia gagan2008vir
@gagan2008vir, Rightly said. We might get to see its affect on Monday. :D
Reply
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