Price breaksout and reached the important resistance levels and rejected from it. Now price trying to close above the resistance levels but still it is unable to do it, when price closes above 30, then one can expect strong up movement.
On Bank of Maharashtra chart if we see that all supply zones are tested by it's lower supply zone/price actions, so as conclusion no strong supply zone on upper side. Sector chart and movement also support price to move upside. Stock will go upside eventually by crossing all supply zones slow slowly and might be create new higher highs.
#46 (GENIE IDEAS): I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.and if you have any queries let me know. I have also posted my views on stocks which on the verge of breakout indraprastha gas, ubl , castrol, hindustan unilever,...
Short Term Quick Profit
Target 1: 272.65
Target 2: 283
SL : 251
Timeframe < 30 Days
Can hold for longer time
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections followed by another high!
Inverted Head & Shoulder Pattern Forming
Rising Volume with rising Prices.
Bank of Maharashtra is the top candidate that has been favoured for privatisation. A big run-up is very likely to happen. Buy for 42+ levels. I’m not a certified financial advisor nor a certified financial analyst nor an economist. This is for educational purposes only.
NITI Aayog submits privatisation list: Bank of maharashtra is one of the top contenders. Buy at cmp for 40+ levels. All oscillators are positive. Study breakouts that occur on high volume which show greater conviction, meaning the price is more likely to trend in that direction.
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.
Guy's lets have a look at Daily and Weekly chart of Bank Of Maharasthra - Strong Break Out came above 26 levels. Stock closed at 29 levels and we can see further upward move so the stock is good to accumulate on every dips. It can give nice movement in coming weeks ahead.
For Educational Purpose only.