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...
Bandhan bank:- DEMAND AND SUPPLY ZONE BUY ON DEMAND ZONE AND SELL AT SUPPLY ZONE U CAN MAKE MONEY BY THIS ON POSITIONAL TRADING..
Nifty - 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...
Reason- -Golden crossover -Demand zone -
The 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.
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.
The stock has given breakout from its resistance zone of 216.55. Buy for a target of 236, 285. Stop loss: 207
Bank 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.
PSU Banks oversold. Enter Union Bank at 71. Target 73.5. SL 69.5.
ALBK is bearish engulfing and with higher than usual volumes. and Fresh Short positions initiated. SELL Alahabad Bank (ALBK) at 43.90 with Stop-loss on closing basis above 46.90 and Target 1 at 40.5 and Target 2 at 35.45
FEDERAL BANK BUY NSE:FEDERALBNK Trades on NSE with 6 times its average volumes for second consecutive day. BUY NSE:FEDERALBNK at 80.5 Target of 88 and Stop loss of 77 on closing basis
Nifty PSU banks (CNXPSUBANK) weekly chart study - megaphone
SOUTHBANK traded on NSE with 7 times its average volumes gaining 16% in trade. Signifies a pullback rally. Buy SOUTHBANK on NSE at 14.4 Target 16.4 and Stoploss of 13.4
Applied Fibonacci to recent lows and highs. Stocks is taking support at 0.5 Fibonacci level. Given the weakness in PSU Banks this stock can be sold below 76.3 with a stoploss of 77 Targets of 74.2
Applied Fibonacci levels to July lows and August highs. Stocks seems to have corrected 50% of its rally and taking support at 289 290 levels which is 0.5 Fibonacci level. It also seems to be following a falling trendline. SBI can be a sell below 288 with a stoploss of 293. Target is 280.