SBI NSE:SBIN has been in an uptrend over the past few days. Bank Nifty having gained some steam, SBI may be in the right position for a big gain upside. Having a resistance far away with a strong support as seen in today's trade at current price, it may be a good opportunity to trade for handsome returns.
HDFCBANK has shown small rejections at its weekly support trend line. If it moves upwards it can be traded for 1069, as 1069-1079 is area of strong monthly resistance.
If HDFCBANK falls below 1025 comfortably, it will retest 975.
So keep close watch and follow the strategy as follows:-
In case of upward move:
Intraday traders/Short term traders can...
ICICI Bank can move towards 400-414-434. Below is my strategy for traders in this banking stock.
Wait for ICICI Bank to take a direction. It currently stands at its resistance of 380. If this moves upwards or opens with gap-up, take an entry/buy position at 386-388 only after it touches 388 atleast once.
Entry point: 388, SL: 378, Target: 400 (Intraday),...
RBL BANK, is showing a bullish momentum till now
BUY at arrow and SELL as it touches the upper trend line, if it crosses the trend-line then wait you could have more profits to come dont sell till 230/- clear cut it level, why 230/- levels because RBL BANK too much sold by the BIG PLAYERS in the market but it also seems that they are again get interest in this...
Here's another stock that has just broken out of a range and from its all time lows...Even if it seems like a sharp upmove and conventional wisdom would advice against an entry after a 25% rally over 3 days, the value proposition is very compelling. Get long and stay long...
There is no clear view of the intraday. Let's see where BNF will open on Monday then I will make a decision. 19000-21800 will be no trade zone for me.
19800-20300 - Major Demand Zone for the Intraday
18350 - Minor Support
tgam a t swapniltradingroom
Bank nifty has broken the dow theory concept of Higher low and Higher high in weekly charts.
As per dow theory trend changes when the last higher low is broken, so we can clearly see a trend reversal in Bank nifty.
The last Higher low was - 26560, so if the BnF close below this by end of this week. Then we can expect trend changing.
Also two key Moving averages...