Stock is moving up after an expanded flat correction. The current structure suggests that a 3rd-wave is about to start.
TRADING STRATEGY:
BUY: 223 (CMP)
SL: 218
TGT: 232/240
BandhanBank is trading near it's support zone and looking good for upside targets marked on the chart.
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We can now long Bandhan bank for 300 target as per technical, we can see ab=cd + cypher pattern in this share. and we can see a breakout of falling wedge in this share.
not valid below 200
Thanks
We can see a breakout ion upside of pennant pattern by this wave and then Bandhan bank come inside again in this pennant as per my analysis. I am posting chart third time of Bandhan bank.
In technical terms we say this pattern as a wolfe wave
Refer the cart well
On the higher side a triple top kind off patter has been formed so a buy above these levels should give you a good move.
While on the lower side the stock has tried to break the levels of 330 but received a rejection by the buyers, hence a sell below this level is recommended.
Sell Bandhan Bank if sustains below 324 for the lower marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Bandhan Bank formed a bullish candle and closed near the previous resistance level. Buy Bandhan Bank if sustains above 330 for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Bandhan Bank is placed at top end of the channel and just today formed nice red candle.
Considering downward drifting channel it is a good risk reward opportunity to go for reversal (short) trade .
Consider daily close above top of the channel as StopLoss and Target for lower end of channel.
