Note: This is for educational purpose and do not trade in F&O.
There seems to be a hammer on 200 MA which coincides with 61.8% Fibonacci retracement. There is a loss in momentum on bearish side.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
(Swing / Positional Trade) | RR 1:3+ | Type:- Breakout
Reasons To Trade 🤔 :- Head & Shoulders Pattern , Bullish Banknifty , Above 200DMA , Global Market Bullish.
Entry :- 334 (Only Enter After Clear Breakout Or Opening Above Trendline).
Stop Loss :- 313
Targets :- 1st= 365 | 2nd= 395
(Risk Must Be Managed.)
Keep Your Eyes On Index
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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.
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.
* Breaks short term downward trend line.
* Around 50% retraction, it start moving up.