1) On daily time, it managed to close above 200DMA. 200DMA is placed at 320.03 level.
Only negative thing is that 50DMA is below 200DMA.
If it managed to sustain above 200DMA then the bullish move will continue.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame, if...
Stock has been making lower highs, but we have 20-50 EMA crossover and rising RSI, indicates the stock can gain upward momentum.
Stock has been in accumulating zone from April 2020 which can be seen in volume. if the stocks breaks levels of 350 we can see upward movement till 400++.
Take long positions carefully.
For Educational purpose only.
Bandhan Bank may show a reversal. Doji (reversal) was made yesterday followed by a green confirmation candle today in the daily charts. I am not sure about the entry for traders but investors (short to medium) can go long.
Resistance: 315.60 / 324.30 / 336.55
***Buy for medium term target of 335+
Bandhan Bank (NSE Cash)
Resistance: 344.75 / 349.90 / 357.70
Market cap: 529.649B
Rel vol: 0.28
Avg vol: 10.191M
***Technical data looks good
Daily charts (long term)
The charts are in an uptrend.
20 DEMA is below 100 DEMA but there is a reversal.
MACD is showing a bullish reversal in the bear zone so we...
Double Top Pattern
1. Double Top Pattern is a Trend Reversal Pattern.
2. In this case the trend prior to the Double Top Pattern was clearly an Uptrend.
3. Bandhan Bank broke the confirmation line and a good entry, in this case, would have been @ 374 on 15.01.2021 using the Retest Entry Technique.
4. Target would have been the Height of the Double Top Pattern or...
IHNS Breakout and retesting
Formed Bullish engulfing at neckline
above 200 dma
If sustains above 346 First hurdle around 365
if crosses that target is 400
(as per HNS as well)
Sustainance above 345 is very imp as per fibo golden ratio
Note : This idea is only for learning purpose.