SBI gave a good move on 16 September. It was muted by the china reality crisis and global cue. Now it is gathering up the fuel to move again, this time it can be huge as the government have made resolution plans for this NPA filled PSU banks.
Bank Nifty Futures show a clear breakout but the RSI shows that it is in an over bought range already. I will step back for a while and let this up-move settle before I take a trade as the risk to reward ratio is not favorable.
One can accumulate IDFCFIRSTB at this price and hold with a strict stop loss of 40 - 42. Stock might show reversal from here.
Banking sector looks strong keep accumulating
Stock- Indusind bank Cmp - 1039 Resistance- (1060-1070) #fundatechnoinvest FUNDAMENTEL HIGHLIGHTS- -Net Income of the bank increased 11.52% QoQ & 193.82% YoY -PE Ratio is comparable to Industry leaders. PB ratio is much less than other its peers, which makes it attractive for investment. -CASA % decreased to 40.37 from 43.14, which is comparable to other banks...
Look at the beautiful chart. Also refer to my previous post for more detailed view. ( NSE:HDFC Link is attached below) Thank you. All the best. Happy investing/trading.
NSE:HDFC HDFC is about to go to the sky. Make sure that you are in it before it takes off 😁. HDFC group has been underperforming the whole markets. It is consolidating for a long time. A triangle pattern is also formed in daily time frame. You can see long wick candles indicating momentum built. It also formed several doji patterns. HDFC is near the pivot point...
Hourly breakout. Seems like the stock is getting ready for 1580/1600 levels once again. Banks in general are looking good after a good consolidation.
Poor closing for banknifty. If tomorrow no bounce from lower levels then can visit 34k-34200
I know my charting some times gets complicated because I very much use every technical analysis tools and some theories of #Gann and #Fibonacci. This is a very simple Setup for tomorrow with the confluence of resistance in the trade. Buy once it's broken. Don't short #PSUBANKS right now. Thank you
Research about the stock Fundamentally if you want to invest in it
Entry – above 42.55 only (else Stock is in Sideways Trend) Stop loss – 33 (Trailing Stop 39.5 after Price gives a run up) Target 1 – 59.7 Target 2 – 85.4 Duration – 1-2years Fundamentally, No one knows how to value Public sector Banking Stock. And PNB had a Bad history with Nirav Modi Case. So No one knows Quality of Loan book. Technically, Good Accumulation is...
Buy Rbl Bank Only 176.80 Target 180- 183- 187 Sl 173
Half way through. Still holding the levels. We plotted a divergence. Possible reversal to happen. Trade safe.
Nifty50 has been performing the way we analyzed. Sustaining below 200 ma show bearish pressure. Gap from Feb 1st BUDGET DAY has been filled and tested once but we can see some range trading tomorrow which can help NIFTY50 to test the support(gap) levels again making it a DOUBLE BOTTOM PATTERN & W PATTERN. Both patterns are trend reversal patterns. Trade safe...
for intra players..... expecting a good movements in banks.. so intra players keep an eye on it......