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.
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
Andhra 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 ...