amankavi
Short

South Indian Bank - Upward trend

NSE:SOUTHBANK   SOUTH INDIA BANK
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Can call next level in month or so, to TP = 30,35
Didnt fall down much post results
RSI also near neutral stage
Price to book value: 1.15 (Safe)
Price to Sales: 0.81
Sl = 19
Comment: Target 1 reached : 27 after consolidation
If Nifty moves towards bullish trend, TP= 30, 35
Trade active: Some consolidation and upward bullish trend could start as the scrip crosses resistance level in another 15-30 days (my call)
Trade active: Closed at 28.15.. Upward trend with supporting accumulation to be seen.
Trade active: Uptrend appears strong as to why bearish divergencies arent working as per MACD (momentum)
Yet to see TP
Trade active: Going strong surpassing 52-week high
Trade active: Where will it go?
Double Dojis and spinning top candlestick pattern at the top of trend showing sign of clear indecisiveness and chance of reversal..
If bullish engulf, Surging to new heights :)
If bearish reversal follows, Planning to exit at 28-29
Any Upside still Remaining?
Reply
amankavi allaboutstockmarket
@allaboutstockmarket, I think so.. yet to see crossing resistance levels :)
The scrip has not much major corrections when banknifty went on downside
Price to book value: 1.16 so not much risk to play on..
Reply
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