Greetings Folks,
today i have prepared a setup of SPUTHBANK on NSE
the analysis is as follows-
- The price made a minor change of character
- its not speculating in a famous pattern used by retailers
- my current bias is bullish, so i am looking for bullish breakout
don't play with fire, always use a predefined stoploss
BUY - SOUTH INDIA BANK
CMP - Rs. 18
Target - 1: Rs. 25
Target - 2: Rs. 33
Target - 3: Rs. 42
.
.
Technicals - Bullish Flag BO
.
Note: Target 1 will be achieved within 1 year, Target - 2 within 1.5 years, and Target - 3 in 2-2.5 years.
.
This is just a view by an expert analyst, please invest at your own risk.
.
Follow me for more!
It has closed above 200EMA
RSI has given a break out and it is moved up from the oversold zone.
MACD bullish cross over has happend.
Till the breakout volumes were dried up and on the break out volumes are comparatively larger.
This could be good opportunity to get in for long.
Please comment your views.
Thanks,
Very high probability setup in making let price break previous low, there is also trend line support look for bounce from there, how far it can go is kinda early to tell, monthly view suggest it might go pretty high, but still be cautious after it break previous high.
Good luck
