albk short
current price 47.15
stoploss 49.75
1st target 43.75
2nd target 42.05
3rd target 40.60
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
ALBK
Medium Term Investment Pick: Allahabad Bank Strong Breakout on Weekly. We now have a retracement in making. Expect retracement till Weekly KS and Bounce. Expecting target 77.
I am already long on this stock, will add more on retracement.
ALBK "INTRADAY SHORT"ALBK will be short as per the chart for INTRADAY ONLY.
SHORT BELOW 46.70 and use your own risk management rules to achieve TARGET as well as for SL.
ALBK SELL at 43.90 SL at 46.90 T1 at 40.5 T2 at 35.45ALBK is bearish engulfing and with higher than usual volumes. and Fresh Short positions initiated. SELL Alahabad Bank (ALBK) at 43.90 with Stop-loss on closing basis above 46.90 and Target 1 at 40.5 and Target 2 at 35.45
Party over for PSU Banks?PSU Banks have been in a consistent downtrend since the rally they had after 2008 Financial crisis.
This charts looks at last 10 years for PSU bank index and they seem to be following the trend line.
index needs to have strong consecutive weekly close above 3350 for a major uptrend to start until then its a sell on rally.
We should wait for Index to close below 3314 in short term for new short positions.
Pitchfork Good Risk to Reward TradePitchfork is catching the price movement nicely. It has broken the LML* but immediately came back into it thus showing the demand at current level. One one can take small risk of low of today as SL and buy the stock. We can expect the target of 46.80 which offers a very good risk to reward, so it looks OK to go for contra trend trade. I am not expecting a trend reversal here just banking upon pull back.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Go Long on ALBK for Target of 110 with a stop loss of 54After the news of recapitalization of about Rupees 2.11 Trilion for Public Sector Banks the NSE:CNXPSUBANK charts were negative to sideways consolidations, Considering this sideways movement this gives an excellent opportunity to invest in PSU BANKS. I choose NSE:ALBK you can do similar analysis in other PSU Banks as well. NSE:INDIANB has actually given a follow up rally after recapitalization rally so that will be kind of different analysis rest most PSU Banks have more or less similar trend.
Now considering my rational, if you see after a big fall from 2015 where NPA issues were discussed the major reason. Stock is in primary accumulation phase which is clearly evident by rising volumes, so this means the stock is due for another rally, so i think it's an ideal opportunity to buy this stock. Plus after recapitalization rally just look at the volumes in the negative to sideways consolidation. So seller weren't strong in this phase which gives another positive rational to buy this stock.
I'm expecting the stock to break this TRIANGLE formation and minimum target I would expect from this would be 110. Keeping a stop loss of previous swing low which was around 57 levels so 54 seems a good level for stop loss. At this point we are getting a minimum 1:2 Risk reward.
Last I want to specify the Bollinger Band Width, this help us identifying momentum, this stock historically has found momentum around 0.149 levels, this is also very important to identify that how soon will we achieve our targets.
So I hope you would find this analysis helpful for your decision making (Please always trade with a stop loss)
Note: Risk Only What You Can Afford to Lose
Alhabad Bank - Harmonic Pattern.Possible Harmonic Patterns in Action.
ABCD = PRZ 77.
Butterfly = PRZ 79 - 81.
Pattern Failed Below 64.15.
SL Area 63.
For Educational Purpose Only.
I am not a SEBI Registered Financial Advisor.
Allahabad Bank to approach wedge supportAllahabad Bank has been trading in uptrend and forming a rising wedge, it touched today wedge resistance and seem to approach wedge support around 75.50 in near term.
ALBK : Long Now for Targets 98ALbk has broken its consolidation move and also has broken its upper high !!
The way Banknifty is performing, we expect psu banks to once again rally !!
Keep a stop loss of 83 -- go long for 98 targets -- time : By end of september or before ! !
Bias: Personal position as well in both cash and F&O.
Expecting 90 within a day or by tomorrow
