Bandhanbank
Bandhan Bank to make new highs??1) On the downside if price takes out S1 in 15mins & then S2 is the target. If S2 is also taken out in 15mins then S3 is the target. If S3 is taken out in 1 Hr time frame then the white dotted line is the target.
2) On the contrary, if the orange line is taken out upside in 15mins then the orange zone is the target and price can reverse back from there if not sustained. Also if price opens above the orange line and sustained above it for 15mins then orange is the target.
3) If the price takes out white & sky blue trendline in 1Hr & 4 Hr time frames then uptrend will begin.
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This analysis is purely for EDUCATIONAL purpose, just to give an idea on the price movements!!
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Bank Nifty Supports and resistance.. And bearish patternThe Bank Nifty is making a bearish pattern called head and shoulder pattern, The banks are already weak, the hearing on moretorium will be on 28th September 2020, and it will not totally be in the favour of the banks. The pandamic is not over yet, so this all suggest will test the 21650 levels again and if it breaks will test 20000 levels also
Bandhan Bank setupTarget of 317,325. SL is a must and should be according to your risk appetite.
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Bandhan Bank : Positional Buy Trade SetupNSE:BANDHANBNK
Hi Traders,
Bandhan Bank is moving up with support of trade line. Once it close above 329, a short term higher high and higher low will confirm and you can open new orders based on price action.
Stock Analysis
* Breaks short term downward trend line.
* Around 50% retraction, it start moving up.
Buy Level
Above 329
Target Level
TP1= 402
TP2= 531
TP3= 611
TP4= 102.55
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Bandhan Bank to start fresh Impulse WaveStock post touching 650 broken Consolidation started going south till 152.
From 152 it made retracement fib levels 0.5 completing first 5 wave impulse
Right now stock trading in parallel channel and expected to respect it as Volume dropping and wave C could be coming to end near 270 which is again 0.5 Fib level of impulse.
Long all dips towards 270
Short term STOP LOSS 248, For Long term bigger Stop loss of 195 on daily closing basis.
Expecting impulse 5 waves to start soon with short term targets 368,396,432(possibly wave 3).
Long term positional target 521 (80%+).
Disclaimer: Calculated and plotted values may differ from actual stock movement. Plotted wave count can be wrong. This investment/trade may not be suitable for all investors. Do your own study or ask your financial advisors before investing/trading.
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