The FASP for Bandhan is listed for 29-12-2022. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...
share name : bandhan bank
call type : positional
- share is forming a falling wedge pattern with
morning star on c point and hammer candle on
monthly time frame which shows the buyer
presence in this stock
- we can accumulate this share at this level and
look for the targets of 333 and 367 as per
- stop loss is 209 for this script
After Corona, Bandhan Bank is still in the range-bound market and below 250 we can see a good target on the short side for the upcoming weeks.
Previous support of 260 is broken and now it is moving towards 250. 250 level is good support and the last support of range-bound trade.
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.
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.
InvestPro India Team
BANDHAN BANK HAS BROKE ITS WEEKLY TRENDLINE AND HAS BEEN CONSOLIDATING ABOVE IT.
1.It is hovering above 200 ma
2.Flag and pole type of formation can be seen which is a continuation pattern.
3.Previous swing highs acting as support.
4.RSI and MACD supporting bullish move.
Buy above - 329
Targets mentioned in the chart above.
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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.
Bandhan bank was following a channel pattern in weekly time frame in daily time frame a hammer is formed where we shortlisted this scrip for long the but the hammer was so big that we waited for a small SL and we got that on 30th dec where you can see a wick exactly on our channel.
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...
=> 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...
On daily timeframe, BHANDHANBNK shwoing falling wedge pattern breakout. After this breakout expected it will rise upto 425+ level in upcoming few trading session. Downside possible if not sustain above the breakout and starts trading below 275 level. Possible trade for this stock is go long above 305 with stop loss of 275 for targets 350 and 425+ for short term.