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...
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...