ANDHRABANK
Andhra Bank - Trendline Breakout from Lows It has been observed that after a sudden huge gap up, the price action came down gradually and covered the big gap. Now, it is striving to breakout from the downward trend line in order to revive the trend.
T1- 63
T2- 64
SL- 59.5
Cup & Handle breakoutIt is been observed that ANDHRA BANK, has given a cup and Handle breakout near 57.5. bullish in nature. watch near 56 to 58 for target 63/72 stop loss below 54.
ANDHRA BANK- TRENDING UP It is been observed that the price action breaking out to new highs and forming higher lows, indicating a trending up chart. Now, the price action has broken from a triangle consolidation formation,indicating a further bullish move ahead.
Target 1: 60
Target 2: 62
Stoploss: 56
Andhra Bank to touch channel support at 55Andhra Bank has been trading in uptrend and approaching support of channel, it closed today forming a shooting star pattern, we may expect to stock touch 55 in coming day.
Andhra Bank on the edge can go either wayAndhra Bank is trading in down trend and trading in a channel downward, after multiple false breakout ups and down sides it has been unable to establish the trend either way, it is now at confluence level if open gap up then there will be breakout and it may trade upward with a target of 64.00 in near term if open gap down will trade in channel with target of between 47-48. trader may wait for breakout either way and enter.
