Kotakbank's chart hourly and daily pattern shows its a bullish setup building but option data is showing it is a sideway momentum.
There is a pullback due which might show the below setup.
Script Action Entry SL Tgt 1 Tgt 2
Kotak Bank Buy 1,761.48 1,673.38 1,849.58 1,937.68
Indus bank is on the verge of breakout keep an eye on it. Formation of triangular pattern and good volume contraction in Bollinger Band indicator.
If bank nifty falls their is a high chances that the breakout will be in the downward direction else sky is the limit.
Calculate your RR ratio and trade accordingly.
infy is making a triangular pattern is on the verge of breakup. Stop-loss must be below the immediate swing.
Reason to Buy:
1) Formation of a triangular pattern.
2) Bollinger Bands showing consolidation.
Possible breakout in upcoming few days. After breakout retracement is possible at the same levels and momentum will continue after that.
Sellers fail to bring down SBIN 3 times denote's pressure from the bottom to push up.
Reason to buy:
1) Trend Line breakout
2) Buying pressure from bottom
Next best entry will be after retracement i.e after 201.60. Stop loss will be below intimidate swing i.e below 197.00.
RR ratio should be calculated and accordingly trade should be taken.