Long Term-Bank Nifty is prepped nicely, for a push towards 20k.----Long Term---
After failing to push beyond 22k in April, Bank Nifty is poised to make a run at it again. The bulls will start accumulating positions at previous lows of 16,800s over the next week. We can see the prices moving north in the first week of June, with the whole of June witnessing a decent bull run.
-Farty
BANK
Buy!(Intraday) Kotak Mahindra Bank
1. Kotak Bank stuck in Descending Triangle Pattern.
2. Price took reversal from the Triple Bottom Formation.
3. Inverted Head and Shoulder Formation about to complete on Hour Chart.
4. BUY ABOVE: 1183 TARGET: 1214 , 1275 STOP LOSS: 1125
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CORPBANK -- CORPORATION BANK LONG -- Low Risk High ReturnHello Traders & Investors,
Corporation Bank ( CORPBANK ) is having a strong potential upside. The chart explains all of it.
Firstly, The large volume traded made the prices reach the local maximum of Rs. 29+.
Then we see a flat consolidation phase.
And now finally, there is a new technical breakout.
CMP-25.55
The stock has potential to reach 35 in less than 24 candles, which would be approximately 37% returns from now.
Other than that, there are technical indicators like MACD & Stochastic explaining a good time to enter and enjoy the uptrend.
The rally might slowdown at about 29, reaching the multiple highs, but the potential is to break above the multiple tops.
Over the time it reaches and breaks above 29, we will be sure of the pattern "Head & Shoulders" and thus the Long Position fruitful.
All the best & Enjoy with the rally.
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