J & K BANK LTD.Long
Kashmir Foot-Hills
Hypothesis: J&K bank appears to be in a long term ABC correction and has reached major foot-hills (read-Support). Additionally, there seems to be strong 'Momentum' divergence developing in the Daily charts and a 'Gap' to be filled at 35.5 levels. Therefore, this overall counter current-trend strategy is based on a confluence of strong factors .
Overall trading strategy:
Buy at current levels: 32.5-33
Stop loss below: 31
Short term target: 35.5-36
Manage Risk. Trade Well.
Cheers,
CA Nick
Overall trading strategy:
Buy at current levels: 32.5-33
Stop loss below: 31
Short term target: 35.5-36
Manage Risk. Trade Well.
Cheers,
CA Nick
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