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BHARATFIN has been bouncing off the neckline for a couple of months. currently testing itagain. Awaiting a brekdowmn/reversal
Short below 1200
Target 1190 & 1180
Levels mentioned on chart
BHARATFIN weekly chart study
RSI Divergence might see a downfall to levels of 1098
BharatFIN is retesting its recently made lifetime highs.
Bharatfin has been moving in a slow rising wedge for few months. Currently testing the median. Awaiting a reversal or a breakdown.
Bharatfin just broke out of the 618FIB n heading towards completion of the possible BAT Pattern.
BHARATFIN is moving in a triangle for a while, closing in at the tip, awaiting a break in either direction.
explained in the charts
BHARATFIN is moving in a falling wedge.
BHARATFIN completed the head & shoudlers and is testing the neckline, in a triangle
BHARATFIN is moving in its breakout/reversal zone.
Breakout of the zone can give a push to test the highs of 940 which hasnt been crossed since 2011.
A play of support and resistance levels can be seen on the chart along with the channels.
Can retrace before it can retest the sup/Res levels.
i) There is inner range breakout 15mins available, if it breaks to downside, huge potential trade & instead if it breaks up it can turn out to be false breakout, as this will be early break on 1hr range.
ii) Either you can wait for the 1hr range to complete as per the lines, may take 2-3days also & Enter the hourly breakout
iii) If aggressive, entering breakout ...
Bharat Financial is making a HnS and could very well prove to be the stock to watch-out for in coming months. Buy and Hold in cash with recent low as stoploss and ride well above the breakout.
The stock is clearly in Bull's hand moving vertically. Pennant pattern has given breakout yesterday with increased volume. It looks very promising for trading as well as investing. Traders can book profit around previous High approx 925 by providing SL 840. Investor can expect at least 25% capital appreciation for their patience.
Bharat Financial looks good for a short term target of Rs. 830 and 855.
The logic behind my prediction is :-
1. The stock has crossed both 20 and 50 Exponential Moving Averages and both the Averages are rising.
2. The Awesome Oscillator is trending upwards and if it crosses zero line chances are the stock may also touch 855 and 887 which are Fibonacci resistance ...