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.
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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.
Bandhanbankchart
BANDHAN BANK BUY!Bandhan Bank LOOKS A NEAT BUY NEAR 292 WITH STOP LOSS BELOW 279 FOR TGT 1 : 305 TGT 2 : 317 TGT 3 :328.
Try to book on a risk reward of 1:2 and don't wait for the exact targets as market is very uncertain.
This post is for educational purpose only.
Disclaimer post: We are not sebi registered analyst, plz do your own analysis before investing. we are not responsible for any of your losses
Bandhan Bank - Long Bandhan Bank - Chart Analysis
Buy zone; 289-279
Upside Targets: 309, 329, 350, 373
Support Levels: 250 225
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**Disclaimer: I am not a SEBI registered consultant/Advisor. It is completely my view and opinion. My intention is not to provide any financial advice, training advice, or any type of advices or any recommendations on stock buying or selling. Please do your own research and consult with your financial advisor before taking any action. I am not responsible for any of your action on buying or selling or holding the above mentioned stock or/and index.
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Bandhan Bank (NSE Cash)Bandhan Bank may show a reversal. Doji (reversal) was made yesterday followed by a green confirmation candle today in the daily charts. I am not sure about the entry for traders but investors (short to medium) can go long.
LTP: 295.95
Support: 285.00
Resistance: 315.60 / 324.30 / 336.55
***Buy for medium term target of 335+
Bandhan Bank (NSE Cash)Bandhan Bank (NSE Cash)
LTP: 337.95
Support: 335.05
Resistance: 344.75 / 349.90 / 357.70
Market cap: 529.649B
Vol: 2.21M
Rel vol: 0.28
Avg vol: 10.191M
Float: 681.681M
***Technical data looks good
Daily charts (long term)
The charts are in an uptrend.
20 DEMA is below 100 DEMA but there is a reversal.
MACD is showing a bullish reversal in the bear zone so we will consider it as neutral.
RSI has crossed the 50 mark and is trading in the bull zone.
***Bullish chart
Hourly charts (medium term)
An awesome green candle with momentum.
20 DEMA has crossed the 100 DEMA which is a bullish signal.
Volumes are in green which again is good.
MACD is in the bullish zone with a bullish pattern.
RSI is above the 70 mark. We can see a bull run once it crosses and sustain above the 80 mark.
***Bullish chart
15m charts (short term)
Beautiful high top high bottom formation of candles.
DEMA is aligned.
Volumes are good.
MACD is in a sharp uptrend.
RSI is closing the 70 levels which is a strong sign as well.
***Buy for short term targets of 345 / 355
BANDHAN BANK SWING TRADING - IMPORTANT LEVELS
Double Top rejection from 425 level.
Ascending triangle nearing completion.
Formation of Higher lows.
Good support from the trendline.
Use appropriate risk-reward ratio.
Always use a stop loss.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Bandhan Bank Chart AnalysisDouble Top Pattern
1. Double Top Pattern is a Trend Reversal Pattern.
2. In this case the trend prior to the Double Top Pattern was clearly an Uptrend.
3. Bandhan Bank broke the confirmation line and a good entry, in this case, would have been @ 374 on 15.01.2021 using the Retest Entry Technique.
4. Target would have been the Height of the Double Top Pattern or 2R.
Ascending Triangle Pattern
1. Ascending Triangle Pattern is a Trend Continuation Pattern and should be identified in an Uptrend.
2. Similarly, Descending Triangle Pattern is also a Continuation Pattern and should be identified in a Downtrend.
Bandhan Bank is forming an Ascending Triangle Pattern in a downtrend. Is it still valid to trade this pattern?. Nonetheless, the fact here is that the buyers seem to be in control forming higher lows and if the resistance of 350 is broken we can go for a long trade with a target of 380 (confirmation line of the double top pattern) or 400 (width of the base of the triangle). But it all depends on how the stock behaves at the breakout or breakdown.