0.5 and 0.618 in Fibonacci is a golden zone from where price retraces so here Bandhan bank was following a trendline so to predict that pullback we used fib! We plotted Fibonacci from 165 to 423 (uptrend) and if we observe the reaction to our golden zone we can see it is a very important key zone. It broke out of Falling wedge with a nice breakout with good...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
The stock has been following the support and resistance theory.
The earlier support (Price zone from which the Price jumps up multiple times) is turning into Resistance (Price Zone from where the price turns down multiple times) and earlier resistance is turning into Support.
The stock has given a weekly chart breakout with good volume and considering the...
NSE:BANDHANBNK
Observations:
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...
This line acts as a strong resistance for this stock, and it doesn't closed above this trend line in its lifetime.
It did breached once, But that's a fakeout.
Moreover I found similarity between Bandhan bank and RBL bank, Both seems to be moving in accordance with each other. You can have a look at my publication on RBL bank, you can find the link for that in...
=> In weekly time frame, follows falling channel pattern which was now broken and closed strongly above the channel.
=> Rise in volumes confirms the uptrend
=> One can Buy this stock on the dips near 336-340 for a targets of 371 and 382.75 respectively by keeping 325 as SL
=> Levels are marked on the chart for reference.
Disclaimer => This is only educational...
My personal view on Bandhanbank.
In weekly time frame it shows a clear breakout after consolidation with high volume.
It can deliever good return if the breakout is sustain. NSE:BANDHANBNK
Entry - 308
Setup - Prices moving above previous LH
Target 1 - 330 (3-4 weeks)
Stoploss - This is a Investment Idea and more positions can be added in case prices dip further
Please trade and invest based on your risk profile and knowledge.
Watch Bandhan bank on a weekly timeframe. It has been forming a falling wedge pattern and taking multiple supports from ascending trend line and support zones ranging from 260-280 levels.
Looking good for upside for targets 350 to 400 levels.
Please note I’m not a registered analyst.
Please analyse your self before investing.
As price continues to make lower lows & lower highs, an AB=CD pattern is observed. The C point is a 78.6% retracement of the AB move, while the D point is at a 1.27BC extension.
A Potential Reversal is anticipated from the D point whose completion point lies at C (minimum).
Plus a candle engulfing the previous 4 candles in the PRZ is a favorable indicator. Note...
Bandhan Bank is showing signs of a breakout and has been squeezing with trend line for a long time so a breakout seems to in sight.
Enter CMP
SL 275
Target 330/350/370.
![BANDHANBNK: Simple Trade Setup | BANDHAN BANK | 25-10-2021 [INTRADAY]](https://s3.tradingview.com/f/FHDjVpW9_mid.png "Simple Trade Setup | BANDHAN BANK | 25-10-2021 [INTRADAY]")
