Dear Indian Traders and Investors, I made a quick analysis for you on ICICIBANK to let you know that you still can buy it since the market is following the strong support level that it couldn't break for the past 3 years, and the price will go for longer.
The comment secion is all yours for further questions!
Good morning Traders.
Here is the technical analysis of UCO Bank we all should know.
>> Chart is self explanatory but to elaborating more Stock was consolidating in Symmetrical tringle pattern since 9 months. Where it has made a beautiful support and resistance lines in triangular shape and gave a Nit and clean breakout.
>>In the weekly time frame, we can...
We can see a clear pattern formation.
Its a Descending Broadening Wedge.
Normally Its a Continuation pattern that means earlier market made a top on 18600 and now if price will break this wedge again it will continue the bull rally.
Still there are chances of failure of this pattern.
INDIANB
Buy-Above 150
Sl-130
T-185 195 210+
The stock given a given a trendline breakout in daily TF after making a base at 135-140. However if it sustains above 210 then it can test 260 in mid term.
On 9th Nov 2021, the stock gave a strong upmove as the market opened, thereby consolidating over the day. The structure resembles a bullish pennant formation on 15 min chart (Quite visible at 1H charts too). Support Region remains around 55.5-55.6. A breakout from here can instill fresh momentum in the stock and further upmove.
**I am not a SEBI Registered...
Indian 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!
You can also see my other stock analysis and the results in...
Disclaimer :- This is not any buy or sell recommendation. This is just my personal view on this counter. Thank You !
There is a Breakout generated in INDIANB with good volume support. And now this stock is ready to show more upside levels.
Next levels as below :-
1st Target :- 200.00
2nd Target :- 235.00
3rd Target :- 280.00
Stop Loss :- Below 87.50 on closing...
Above shown in rectangle is a Rejection area. if it crosses it then there is no backwards. It may directly aim to R1.
Bullish trend overall.
Trade according to support and resistance levels.
Rising Wedge pattern on Indian Bank and if the price break the pattern, it leads to hit 295.
Trade:
Short - 309
Target - 295
Stop loss - 317
Reward Points - 14
Risk Points - 8
Acrophobia - Fear of Heights and a fall from the highest level can be dreadful. That's what we are looking in BankNifty, though Nifty & Gold has fallen a bit, here we are still at 20k's at the top almost forming a Double top. Whether this Double top will fail or work - we are unsure about that. This post is insync with our recent post about Nifty & Gold, remember...
