BANDHAN BANK SHORT-TERM SWING TRADE!Hi everyone, Bandhan bank short term swing trade consider buying above 314 target 332 stoploss 304 add more on support between 295-292.
LOGIC BEHIND TRADE : Stock given breakout of dynamic trendline resistance and near it`s static resistance 314 on 2hr time frame price structure price is making higher lows it`s bullish sign stock is going upside targets identified from harmonic xabcd & abcd pattern levels 1.131 and 2.0 & stoploss is taken previous swing low. NSE:BANDHANBNK
Bandhanbank
BANDHAN BANK ready to move UPtechnical analysis -
points to be bullish on Bandhan Bank.
1. Bandhan bank was in downtrend for many weeks gives a fake breakout once , but gives pullback again.
2. for more confirmation, at 1 hour time frame- confirmation that the current breakout is not fake, downtrend breaks & retested results in ready to move up.
3. on weekly chart, shows bullish divergence.
4. bank nifty is corrected very well for now, we can start to accumulate some banking sector stock from now onwards, one can bet for Bandhan Bank as swing as well as long trade.
this study is for educational purpose only.
Bandhan Bank weekly Levels for 01/11/21 to 05/11/21Bandhan Bank is Trading Between the demand and supply zone and Falling wedges pattern Look out for the Breakout Levels
As I always recommend Our TGTS are Entry and Exit levels and also linear levels and pattern line's are support & resistance kindly use them as Entry & Exit Level
Bandhan Bank weekly Levels for 01/11/21 to 05/11/21
buy above 293 TGT-1 295 TGT-2 299 TGT-3 304 TGT-4 307 TGT-5 313 (Week Max-319)
sell below 290 TGT-1 287 TGT-2 284 TGT-3 280 TGT-4 276 TGT-5 270 (Week Min-259)
NIFTY BANK MINOR CORRECTON In this post, I have shared Bank Nifty chart. In this chart, we can clearly see there is more leg remaining in Bank Nifty but some minor pullback is expected as inside the bank nifty channel inner channel top is made.
So some minor pullback can come but take this pullback as a dip and buy the best banking shares!
ICICI ,BANDHAN, RBL MY PICKS
Simple Trade Setup | BANDHAN BANK | 25-10-2021 [INTRADAY]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 it completes the rounding bottom pattern then breakout level is at 337.
Please refer below chart : 1hr Time Frame.
-------------------------------------
Trade Setup for Date 25-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Bandhan Bank ready to explode? Perfect Fib Setup 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 volumes. Since it gave a nice move after breakout so we need a minor pullback and that can happen if the price retests but 295 fib level is way too far and so I plotted Volume profile . Now it's clear, enter at POC (highest traded line) and that will be our entry point. A logical SL below 265 because what if it retests deep? We need to think like this. Targets are 350, 425 for as long we don't see a reversal in future! Get set go! HAPPY TRADING 💹
SUMMARY:-
Entry only if it retests depending upon the depth i.e. best entry 309 (at POC)
SL below golden fib level i.e. around 250
T1 350
T2 425
Bandhan bank at long term resistace!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 relative idea segment. If it breaks the trend line the targets will be as follows,
T1 - 350
T2 - 420
T3 - 510
Disclaimer - I am not a SEBI registered adviser. All the information provided by me are for educational/informational purposes only
Bandhan Bank - Go Long- Weekly=> 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 purpose, Trading involves Substantial risk of loss, pls consult your financial advisor before investing
Breakout in Bandhan Bank...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.
Watch BANDHANBANKWatch 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.
BANDHAN BANK | BULLISH AB=CD PATTERNAs 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 that an Engulfing Candle body 'engulfs' the body of previous candles, ignoring the wicks.
A long trade with buy above high of the last candle ie., 290. with a targets of 350 ( C point) & SL of 255 is a good RR setup.
Please take trades after making your own analysis. This chart is a showcase of my analysis alone, & the trade mentioned is one I'll be taking based on my convictions. This is NOT a trade recommendation.
Thank you & Wish you all a successful trading week!