It is a very quick approach to analyse chart of a stock ,bandhan bank long term trend is down short term trend is up , it is coming to its trend line it can go up after testing trend line so keep eye for any opportunity
Bandhan Bank at CMP 368/- looks like completing Wave 4 and shall soon start for Wave 5 for the higher targets of 430+ with the SL of 345/- offering a good risk reward opportunity.
It is showing signs of completion of a sideways corrective near its Kumo support. If it holds 357 on hourly basis it could retest 400, sustaining above it could take it till 450.
Decide SL & Position Seizing!
Cup & Handle has completed but needs breakout for up moves.
Bandhan good to grab @ around 250 for long run Study technical's before investing.
Long term trendline breakout about to happen..just for educational purpose
LOOK AT MY ANALYSIS HEHEHEHE I FEEL LIKE A I'M GOOD AT PAINTING. BUT IT'S MY VIEW.BANDHAN BANK NEVER GONNA TOUCH THE SKY. INSTEAD IT'S A STOCK WHICH IS DOWN TO EARTH.
Bandhan bank break trend line upside. IT IS NOT ADVISE IT IS MY VIEW ON MARKET .
Upmove is likely to continue but before that one dip towards 405-390 should be there to keep weak hands out of the market. Opportunity can be searched in this zone with strict stop loss below 379 (for short term trader ) and 350 ( for medium term trader) for target of 500+. Disc : It's not an investment advise to buy or sell
I will buy BANDHANBNK because : It has been taking support at the trend line . It has touched the trend line 3 times and has not been able to break it. It is also forming a inverted head and shoulder pattern. So will be looking at buying opportunities. Entry : 325 Target : 405/410 Stop loss : 295
Buy @ CMP CURRENT MARKET PRICE First Sell Target @ 400 Final Sell Target @ 420
Above 415 if breakout with volume then we may see 460-480-520 above all important moving average weak below 248 support at 400-350