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
Hello Friends
Imagine we're reading South Indian Bank's story through a series of waves on a chart – each wave has its own label and meaning.
Looking at the larger picture, we've observed two distinct waves. The first one climbed up and was labeled as Wave (1), while the second one descended and was labeled as Wave (2). Now, a new wave is beginning, labeled as...
Stock is near to 52W high BO with strong volume spike maintaining supportive trendline, may break its ATH soon, follow chart for proper entry and exit levels.
Flag pattern is common and continuation chart pattern in trading.
South Indian Bank forming Flag and pole pattern in daily TF
1. On 7th June it has formed a Bull candle before it showed exhaustion in bear candles and bears are tried to push the price down
2. Volume is key for any Breakouts and i am waiting for good breakout candle with high volume
3. 11.50 is...
After a 2 year long downtrend, South India Bank has finally given a triangle pattern breakout in Daily charts with a huge volume outburst.
LTP-11.30
Target price: 13.5/15/18.5 in short term
Aim for 27-35 in Medium to long term
Stop Loss- 9.65
NSE:SOUTHBANK is showing similar patterns like other PSU banks. I have posted Central Bank of India's chart as well and I see huge potential to the Upside in both of them as per the Charts are concerned.
Fundamentals of South Indian Bank are better than Central Bank though.
