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
A CUP AND HANDLE PATTERN HAE BEEN FORMED IN DAILY AS WELL AS WEEKLY CHART OF BANDHAN BANK. AS PER MY VIEW, NEEE TO ACCUMULATE IT IN THE RANGE OF 325 TO 340 WITH A MINIMUM TARGET OF 400 AND IF SUSTAINS ABOVE IT, CANN MOVE MORE UPWARDS. THE SL IN THIS CASE CAN BE KEPT AT 310 TO 315 LEVELS ON CLOSING BASIS.
ONE CAN ALSO BUY A CALL OF 400 DECEMBER SERIES, CMP IS 7.5,...
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.