Price has breached its all time high on 10th Aug’20. Thereafter price continued to print on pull back mode and test of earlier all time high near 960 levels. On shorter time frame (hourly),it has break out the trend line of the down trend channel and approaching for 2nd leg move. It is anticipated that on closing above 1055, a measured move up to 1130 may be achieved.
Long wicks Signs of rejection at lower levels
Double bottom breakout might be possible
Buy above 11560 if sustained more than 1hr TF
Target 1 - 11650
Target 2 - 11750
Stop Loss - 11450 on Closing Basis
RBL Bank is been trading in a range and formed a Inverted HNS pattern on 1hr TF.. and the neckline brokeout on 7aug. now the scrip its retesting its neckline.. a long trade can be initiated here with stoploss of previous swing low for target of recent swing highs and even more...