Indianbank
Breakout in Indian Bank...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Target 1 (18%) achieved in Indian Bank. Target 2 is ON...This is follow-up on Indian Bank. Can check link to related ideas.
Target 1 achieved. More than 18%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
INDIANB Ascending Triangle Breakout
From a weekly timeframe perspective, INDIANB did a strong breakout with good volumes from an Ascending Triangle pattern
Stock was taking support at the 50 EMA and now has broken 200 EMA on the upside
Can wait for a minor pullback to happen and then enter based on the daily timeframe.
Has a good potential on the upside with a Risk/Reward of 1:6
INDIANB: Ascending triangle,Upside 15%The INDIANB price action resembles the Bank-Nifty price, In simple, the correlation of INDIANB and Bank-Nifty has a O(1). So, In the last three sessions of Bank-nifty, there is a breakout (ascending triangle) which correlates with INDIANB and signifies the movement of the stock toward the same formation of A.T
What does it make sense?
BankNifty is going to make an advance of 22% and Stock has a beta of 1.42 which implies that for the index next move the stock will advance at least 33%. As a result of breakout with intensive expansion further 33%, cuz Index had made a breakout before the stock.
Points to be Note (Technical + Fundamental)
1. Structure- Higher-Highs formation (Ascending Triangle)
2. 1D Critical Demand Zone replusion due to Index correlation signifies fake breakout or failure of 1Week closing.
3. Market Cycle: Primary Trend with sideway distribution (1D)
4. Support: Above 50MA & 100MA
5. Resistance: Major Supply Daily & Weekly
6. Retracement Levels: 0.5 Fib ( of A.T formation)
7. Relative strength: Postive at 4H & Moderate at 1D
8. Volume: Low volumes diminishing but strong buying.
9. Beta: 1.42 aggressive
10. Weekly closing: Positive
11. Monthly closing: Negative yet, but moderate (engulfing postive candle)
1. PE: 4.5 as compared to its peer SBI having 16
2. M.Cap: lower
3. D/E Ratio: 14 Reliable in the banking sector
4. Book-Value: 0.43 Impressive and trading thrice below the B.V
5. Sales: Increased by 90%
6. Sales to OP correlation: Negative as profit is backed by other Income
7. Sales to PAT correlation: Surged by 26% YOY
8. ROCE & ROE is 5.8% vs 10.1%
9. Reserves: Increased by 80%
10. Promoter holding: they pledged the 12% YOY
11. Contingent liabilities: Extreme level
That's it!
IID-01
Indian Bank - LongIndian Bank - Long
Consolidation happening in the market. Slight ups and down will happen in the highlighted zone.
But can buy and accumulate, considering the support level.
Watch for the consolidation zone break out.
Once break-out teh zone, can book the profit
Invest and Trade Wisely! Good Luck!
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**Disclaimer:
I am NOT a SEBI registered consultant/Advisor. It is completely my view and opinion.
My intention is not to provide any financial advice, training advice, or any type of advices or any recommendations on stock/Forex/Coin buying or selling.
Please do your own research and consult with your financial advisor before taking any action.
I am not responsible for any of your action on buying or selling or holding the above mentioned stock or/and index or/and Forex or/and coins .
***
INDIAN BANKNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
NIFTY PSU BANK INDEX - Very Bullish The index is forming an Inverted Head and Shoulder Pattern.
Just broke out of the Downward Channel resistance this week.
In about 2-3 years the index should reach its target of 4340 but before that happens its intermediate targets will be met.
Between 2660 and 3360 there could be some consolidation going forward.
Immediate short term - MACD crossover should give this space some momentum.
My Fav picks from the index include
SBI, BOB, PNB, Indian Bank, Central Bank & Canara Bank.