NIFTYPSUBANK Exhibiting Inverted Head & ShouldersNIFTYPSUBANK Index is exhibiting inverted Head and Shoulders pattern on the weekly chart, with the price just about touching the neckline of the pattern. A measured move target would mean price going toward old time support/resistance line of 4000 on the index. We are bullish on the Nifty PSU Bank index with the price target as mentioned.
Weeklychart
one more added in my list...........this time I found a break out with heavy volume of db corp.. now the first possible target is mentioned which is not a strong resistance zone!!!!!!!
it also framed an ascending triangular pattern
look.
and the whole sector once again is in boom. I find it a good opportunity
disclaimer :- this is my personal analysation and it is not any buy sell recommendation
Muthoot Finance Weekly Chart breakoutReasons for taking trade
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1. Breakout with volume on Weekly charts.
2. MACD showing bullish signal on Weekly time frame.
3. Company came out with very good net profit in results.
4. Price crossed over 20MA, 100MA & 200MA on daily charts.
My Opinion
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Though MACD is showing a bullish divergence on Weekly charts, On daily charts MACD is heading for a bearish convergence and that may result in a retesting of the breakout. I would look for a retest to buy the shares in ideal conditions so that my stoploss will be smaller and target will be bigger. Also a tested breakout is a confirmation of the breakout.
Conclusion
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I will keep this stock in my watchlist and will buy it if the breakout remains strong.
________NO INTACT TARGET. I WILL KEEP THIS STOCK IN MY HOLDINGS TILL I SEE A TREND REVERSAL_________
LIC ready for weekly breakout🍁🍁Buy @380-390 range
short term trgt 490-590
no need of sl but need patience
long term trgt 800+
this is our second entry in lic
reasons for this buy
🔹lic ready for a massive movement
🔹means it's ready for weekly breakout,in this session can see a breakout .
🔹in the previous session we seened a small result trade in the stock.but this time weekly breakout really gonna happen.So keep it on radar guys.
🔹interesting results publishing stock.
🔹also the previous budget talked about housing finance.
🔹something cooking in the chart,it was the right time to enter.and the stock in a weekly support zone.
🔹perfectly respecting down channel once it broke can see 🚀🚀🚀
like🍂comment🍂support
BHARAT FORGE CAN ROSE ABOVE 572 Resistance It broke 2 YEAR OLD TRENDLINE & RETESTED DONE,
It, also broke INVERTED HEAD & SHOULDER NECK-LINE.
If Resistance Breaks, Then Next Possible Target Is 670 !
NOTE: THIS ANALYSIS BASED ON 1 WEEK TIME FRAME)
Feel Free To Ask For Any Technical/Fundamental Query
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Educational Purpose Only !