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Pvtbank

IDFC FIRST BANK - BREAKOUT / BREAKDOWNYou guys are smart if you really know how to trade this Pattern ! A rectangle chart pattern forms during a period of consolidation, where the price moves between parallel support and resistance levels. This pattern indicates indecision in the market, with buyers and sellers in equilibrium. The price bounces between these horizontal levels multiple times, creating a rectangular shape. Traders look for a breakout from this range to signal the next move. A bullish breakout occurs above the resistance, while a bearish breakout happens below the support. Volume typically decreases during the formation and spikes during the breakout, confirming the pattern’s validity. Clear Accumulation/Distribution Happening, pay attention even if you dont want to trade it's fine !
NSE:IDFCFIRSTB
by piyushbafna000
INDUSIND BANKHello and welcome to this analysis Among all large private banks, this one has been an underperformer since October 2021. In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave. Ichimoku Y Wave formations are formed in triangle/diagonal formations. For further upside, it needs to start closing above 1100 on daily basis. Else below 1050, it could resume the downtrend that it started in October 2021. For the short term, it has support at 1025/975/900 On the other hand, if it manages to sustain above 1100 it would head towards 1150 (minor resistance) and above that 1250
NSE:INDUSINDBKShort
by Dinesh_C_Nagpal
1
BANK NIFTY AT A SUPPLY ZONE. DEPENDS ON THE RESULTS.Bank nifty is near its swing high, it may take a correction or take out the supply zone with the short covering moves. Here we analyze the PSU bank index, Private bank index, and ICICI bank to see what could be the scenario on Monday. Today, we have ICICI bank's results which decide the Bank Nifty's run. In the above image of the PSU bank index, we can see that the breakout has yet to happen. The breakout point is B. The supply zone is also 5% away from the breakout point. Anyways, the PSU bank index won't be of much help as PVT bank contribution in Bank Nifty is nearly 87% and SBI alone from the PSU bank sector contributes nearly 12.5% Out Private bank sector, ICICI is the second-highest contributor with nearly 21%. It is important for us to know where the PVT bank sector index and ICICI bank are standing right now. In the above image of PVT bank index, we can see it is almost at the supply zone. It is very critical to have good results or else shorts could enter here. Here's the ICICI bank index, it is trading above the monthly crab pattern's terminal price. Here it could be dangerous either for the longs or shorts. A rapid movement could come in any direction. ICICI results could play an important on Monday but there would be other private banks that could cover the loss by reaching the expectations in case ICICI fails. This is just my analysis and for educational purposes.
NSE:BANKNIFTY
by Sanjan91