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.
To motivate us, Please like the idea If you agree with the analysis.
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,...
We are currently in minor wave iii of wave C of wave Y, fall from 274 has become a complex correction, possibly a triple zigzag pattern, if wave Y is going to be equal to wave W then we can see 81.75, 58.85 and 40 levels too.
Overall wave counts on weekly chart
macd in monthly turned negative
macd in weekly negative
macd in daily also in negative
rsi in...
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 1 HOUR time frame it has breakout 164 level and then it has tested if for support and it got support from 164 and gave good upmove.
Please refer below chart : 1 hr time frame.
2) On Daily Time frame you can see that it has now reverse from the critical support range and made bullish candle today by taking support from...
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
![RBLBANK: Simple Trade Setup| RBLBANK | 02-09-2021 [POSITIONAL & INTRADAY]](https://s3.tradingview.com/h/hGUcb2HV_mid.png "Simple Trade Setup| RBLBANK | 02-09-2021 [POSITIONAL & INTRADAY]")
![RBLBANK: [SHORT] - RBL BANK - TG(1)-172.45 TG(2)-166 INTRADAY](https://s3.tradingview.com/y/y9jaZTSv_mid.png "[SHORT] - RBL BANK - TG(1)-172.45 TG(2)-166 INTRADAY")
