RBL bank has formed a bearish pattern at top and MCAD also indicating a weakness in upcoming sessions.
Take sell trade around 280 - 290 with SL above 310 for the target of 245 - 235.
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Happy Trading!
Posting after long time...
Head & Shoulder in making. As long as below 170 (Our SL on Closing Basis), one can plan a Short Trade below 161 for respective targets of 156/152/145/132 in coming days. Trade is supported by declining Relative Strength and low volumes indicating a good trending move in stock soon, hopefully on downside. If trades & closes above 170,...
NSE: RBLBANK 206
-Fresh up move and again Close At Resistance
-Price And Volume Both Confirms
-Next Level To Watch 210-215-225
-Support Near 185-170
-Closing Basis
NSE: RBLBANK 196
-Fresh up move and again close above the last trendline
-Price And Volume Both Confirms
-Next Level To Watch 203-225
-Support Near 185
NSE:RBLBANK
Observations:
1) On daily time frame it has come to the critical zone. From it may reverse or on breakdown of it, it will go down. But my personal view is that it will give revesal.
Please refer Chart below: daily time frame.
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Trade Setup for Date 23-08-2021:
1) Don't Jump in to trade at the beginning...
Sell if sustains below 263.5 for the targets of 259 and 254 until 267 is saved on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
