will psb bank nifty rally continue#price action
Waiting for break out/ trend reversal.
Go as per chart.
time frame maximum 15 days it will achieve the target in either direction
share your views in the comment section.
Always go with the trend.
Psubanks
CANARA BANK Swing tradeZones for entry are marked on the chart.
The predicted buy & sell zones plotted are an approximation and for accurate levels use the indicator (tradershedge) which updates the levels on real time and also triggers an alert.
You can make entry decision once you get a confirmation at the respective marked zones and opt for the next successive zones as expected targets in the direction of the trend.
Happy Trading !
Buy PNBTrade Setup: PNB took a support at 89SMA and reversed its downmove with high volume
Buy Zone: 34.5 - 35.0
Target=As per Chart
NSE:PNB
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
PSU BANKSThe daily time frame is giving a breakout signal today, the weekly time frame will confirm it above 1550 (closing basis ). In that case the most laggard among all sectors will turn out to be a top out performer for moves towards 1900 and then 2300 . Short term support at 1450/1375 . Watch out for this sector is coming out of a v long bear phase screaming Apna Time Aa Gaya!
pnb longpunjab national is a long candidate with 26 sl for higher side trail targets with rr in favour with dual bottom and rsi +ve divergence
KOTAK BANKKOTAK BANK:- 1450, strong buy on dip opportunity at 1240/60₹ levels as per chart tgt 1600++ sl 1170₹ DCB.
#Disclaimer:-I just shared view for only educational purpose.
Symetrical Triangle breakout on SBIN initiating a long tradeSBIN after a long consolidation have given a breakout of the major resistance of 195-200 zone and at the same time given a breakout of symetrical triangle pattern and now retesting it. A long trade can be initiated here with sl of previous swing low for target1 and target2.
Buying opportunity in Union bankReason-
Price entered in strong buying zone supported by golden crossover
Inverted HNS pattern on RBL Bank 1hr timeframe initating a long RBL Bank is been trading in a range and formed a Inverted HNS pattern on 1hr TF.. and the neckline brokeout on 7aug. now the scrip its retesting its neckline.. a long trade can be initiated here with stoploss of previous swing low for target of recent swing highs and even more...
Nifty Outlook for Tuesday, 4th August | 50x InvestmentsNifty - Technical Analysis:
Nifty opened with a gap down and ended the day just above its low, forming a near perfect marubozu, which is an extremely bearish signal.
On the bright side, Nifty managed to hold its 10900 lower trend line support.
The index formed a near perfect wedge on 15m charts.
Market - Driving Factors:
PSU bank and Metal indices were the only 2 indices which ended the day in the green. Bank Nifty was the biggest loser, falling by over 2.6%
Tata Motors gave a strong breakout and ended over 8% in the green today whereas Bandhan Bank fell over 10% following a 21% equity block deal
Bearish narratives are starting to take steam on popular news media indicating that the bulls have something to worry about.
Nifty - Outlook for Tuesday, 4th August:
Trade on Tuesday will be absolutely vital given that it has the ability to potentially signal a strong bearish breakout. If Nifty breaks the lower trend line, its bad news for the bulls.
On the slightly brighter side, Nifty still has some breathing space to break out. A temporary pullback and further squeeze into the wedge might be seen.
Traders must be cautious and avoid taking huge directional bets on either side tomorrow morning.
City Union Bank LongThe trend appears to be bullish because the price is making higher highs and higher lows. Buy at CMP, Sl at 118.15 and Target at 153.95.
BHEL Important level It looks like trading at very important level also called wait and watch zone , if it rosses 35 and give close above that level it may considered as breakout otherwise trend looks very negative.
Canara Bank - Study - LongThe stock has given breakout from its resistance zone of 216.55.
Buy for a target of 236, 285.
Stop loss: 207
!!CANARA BANK ON THE WATCH!!TECHNO WATCH
CANARA BANK IS LOOKING GOOD FOR A POSITIONAL TRADE AS RSI HAS REVERSED FROM OVERSOLD ZONES WITH STRONG FORCE AND MACD IS ON THE VERGE OF A POSITIVE CROSSOVER
RESISTANCE IS NEAR 210-214 WERE ONCE TAKEN OUT WILL LEAD TO RE-ENTRY INTO THE CONSOLIDATION ZONE OF 213-293 SO GOOD POTENTIAL RETURNS AHEAD
!!WATCH OUT!!
!!FOR TRADE CALL!!
!!PLEASE NOTE TRADE WITH CAUTION AND AT YOUR OWN RISK PROFILE!!
!!PLEASE DON'T OVER TRADE!!
!!LIVE TO FIGHT ANOTHER DAY!!
!!HAPPY TRADING!!
Bank Of India (BANKINDIA) weekly chart study - Triangle bottomBank Of India (BANKINDIA) weekly chart study - Triangle bottom
Trade in the direction of breakout. Expecting a breakout on bullish side based on RSI divergence (minor evidence). Still its advisable to wait for the breakout before buying.
