Again one breakout done with AU in the Last 20 Trading session
Views for long term NSE:AUBANK
indicator and rating
Buy rating- 4.5
Neutral Rating- 0.5
sell rating -0
MA/ EMA cross over
(Near to have positive Trajectory ) Bullish
MACD (-0.90 positive direction)
Buy rating 3
Neutral Rating 1
sell rating 1
🔰 MY thought process :
⭐Elliot waves for the uptrend ended while giving it an ATH now it has broken a serious trendline = downtrend but it's on its monthly support zones which were used to be resistance zones :)
⭐Also at 0.3 fibo so and making a good contraction pattern below the good uptrend line and 50dema, A buy would be initiated if it breaks the consolidation...
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Looks very good on weekly charts.
Gave breakout with good volume on weekly charts and nearly retested breakout level.
Inside channel also. Once channel is broken then BOOM BOOM.
Add till 1120 level.
Hold as per your patience.
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Note: This is for educational purpose only.
There seems to be a bullish breakout with build up near resistance. Moreover, there seems to be a rise in volumes which strengthens the bullish sentiment. RSI is at 70 which indicates that there might be some sideways movement before the next upmove.