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...
The 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
Target of 317,325. SL is a must and should be according to your risk appetite.
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
Price taking support from the trend line, if you are an aggressive trader then go for buy at this range with stop below the support (dotted lines). If you are an conservative trader just wait for the price to cross the resistance levels and go for it.
As per my thinking bandhan bank is nearing resistance and a strong uptrend shows the buyers are exhausted and now might begin to sell we may see the reversal
lets see this is my view and hope for the best!
NSE: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=...
Stock 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...
