Good to buy CANBK @306-310
Stop Loss : 290
Targets : 320/340/360/400max+++
CANBK is taking good support from the trendline. Good breakout of Bearish trend in longer Timeframe.
Thanks.
Disclaimer: This idea is only for the Educational purpose. Trade at your own risk.
If you like the idea kindly support.
As We can see Bank NIFTY is currently in short term Down Trend and is at Key Level,
The Chart mentioned above is of 1D timeframe.
I think BANK NIFTY is at very indecisive level where the further moments will be defined.
We can call the current level as BASE POINT or the Break DOWN LEVEL.
Lets See "Jhole mein kya ata hai" :D
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Hello fellow traders, I hope you're all doing well. As you may have noticed, the market has recently become more volatile and uncertain. In light of this, I'd like to share an analysis of a potential future growth stock with you.
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BankNifty Analysis
BankNifty was trying to recover from the fall yesterday and it got lucky with 2 news events. Firstly JP Morgan announced its adding India to its Emerging markets bond index - source. Catch the discussion in Trading QNA.
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Here are some important pointers about CBI you should know.
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>>Stock has been in an uptrend since last year.
>>Over one year, it has been following a special trend line.
>>Since January 2023, it has slightly changed its direction and is now forming a beautiful
symmetrical triangle pattern.
>>Today, it has reached its resistance level and appears promising to break it.
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IDFC First Q1 Result.
Impressive performance across the board! Deposits up 44% YoY, Advances up 25% YoY, Profits up 61% YoY. Net NPA down to 0.7% (Which is very good indication). ROA at 1.24% vs 0.97% YoY. QoQ net income down -731 Cr. vs 816 Cr. in Q4FY23, but excluding a one-off income of 180-200 cr. from the last quarter, results are still better on a QoQ...
SBIN ready to fly. SBIN is on very good consolidation zone of 593. SBIN can take very good support from here.
Targets as follows,
Long Target 600 - 608
Right Time to Invest in HDFC BANK.
Buying Range : 1615 to 1620
Stop Loss : @1595
Targets : 1650/1680/1725/1775/1840 ++++++
Reasons to Buy:
1: HDFC bank following a channel from past one year, and now again taking support from the channel low i.e. @1615.
So basis idea is that, we will follow the price up to channel high (i.e. @1775-1840).
2:...
BankNifty, the banking index in the Indian stock market, currently shows a promising setup for short selling. Based on technical analysis, it is recommended to consider initiating short positions within the range of 44508-44722. This range is believed to offer favorable selling opportunities in the market.
The primary profit targets for this short-selling...
