The bigger picture clearly shows the converging symmetrical triangle pattern and its getting ready for the breakout. 90% of the time breakout happens in the direction of the existing trend. While breakout please look for the volume and confirm that its not a false breakout.
Can it recover it's position of 1.2-1.4 k in couple of years?
Ratna_Prakash
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@e7783f7209ca42e496a59893f3eb3d, For very long term you have to look in to the fundamentals of the bank and follow the financial performances. If it recovers and performs really good then there is a possibility. But nothing is certain at this point of time where the nation/world is fighting against lives and livelihood.
e7783f7209ca42e496a59893f3eb3d
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Sir what is your point of view for the bank for a long term?
Ad4412
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I have 210 share @470 rs should I sell or hold it?
Ratna_Prakash
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@Ad4412, As per my speculation the market might face a second phase of downtrend due to increase in no of COVID cases. And if the lock down is going to be extended then it will also add up a huge impact in the Indian market. If I were you i would close the position with minimum loss. May be try holding until the price breaksout if it can make another high. Else it is better to sell !
Ad4412
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@Ratna07, sir I think I have to hold it because I don't want loose so much money.
Ratna_Prakash
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@Ad4412, Then better try hedging with option trading !
If you have to hold then it might take you another few weeks to recover at the worst case. If you are fine with it then better hold !
Ratna_Prakash
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@Ad4412, Market is highly volatile. Please trade safely !