Bandhan Bank Long at CMP 276/- with SL of just 258/- Bandhan Bank looks too attractive at CMP 276/- for much higher rewards with smaller SL of just 18 points.
Hope this time Bandhan Bank works in favor :D
BANDHANBNK trade ideas
Hold in Bandhan BankThi scrip had formed a channel pattern after the breakdown from a wedge pattern. Now this scrip is trading at the support of the channel pattern and it has also formed hammer near the support.
As the all above gives this scrip a buy signal. If you take a look at the scrip's major trend it was in downtrend since its debut . This scrip is also trading below the monthly CPR support and it trading well below 21EMA and these give this scrip a hold signal.
Swing traders should be cautious in this scrip before taking any position. It is advised not to go long in this scrip as it would be like catching a falling knife , also there's not much sell signals to sell this scrip.
One may consider to sell this scrip if it broke down the channel pattern
Bandhan BankBandhan Bank has been moving in a channel and right now it has 2 important supports one channel support and a horizontal zone. It can be a good entry with a super risk-reward for the short to mind term.
[ INTRADAY ] BANDHANBK SHORT BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Bandhan Bank Target 112 ? I was going through weekly chart of all fno stocks. Just finished A and started with B. Of course, Bandhan Bank flashed.
So, while Daily chart was not so convincing at a pattern, there is a clean head and shoulder pattern identified.
When the share came it made a large HNS pattern then then if you see I have marked the fall. Now Bandhan Bank is looking like ready for a major fall. Fundamentally, Gross NPA is at almost 8.2% as of June 2021. Promoter holding has gone down quite significantly from 83% in Sep 2018 to almost 40% in June 2021.
One can place a reminder to buy large quantities of this share once share goes below 150 - 125 level.
*I am a newbie trader with only 2 years of stock market knowledge. Please trade / invest your money in stock market on advice of a registered stock market advisor. This is only for educational purposes.
Bandhan Bank - Key support levelOnce among the highest valued banks in the country but its valuations have fallen sharply.
The stock has formed sort of an inverse C&H and any breakdown here could move the stock down a further 10-20% with relative ease.
There are 2 ways this rate works out..If there is a bounce we go long above 280 with a SL below 275.
But if the inverse C&H plays out then short below 275 with a SL above 280 for an initial target of close to 250.
As its on a key support its difficult to say which way it will move so keeping both options open is a better suggestion.
whichever way it moves the trade can be kept ready.
BANDHAN BANK | We can see good upmove on the break out! Currently at a decent support and expected to Move up if it sustains further.
BANDHAN BANK, Looks good for 50 % return in upcoming months.It is trading beautifully in monthly parallel channel and retracing from the monthly lower support to upper resistance.
Swing Opportunity in Bandhan BankGo Long above 300.55 for Targets of 308.8, 317.05, 325.3, 333.55, and 341.8 with SL 292.3
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. A bullish candlestick pattern (Bullish Inverted Hammer), marked with the orange color is formed around 0.5 Fibonacci level.
4. Also there is a strong demand zone (marked with purple color), from which the stock is taking support and moving up.
5. The stock can go up to the trendline where it may face resistance.
[POSITIONAL] BANDHANBNK LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
BANDHAN BANK GANN BOXBANDHAN BANK GANN BOX
Your comment please,
I think it wall take support at .5 level of Gann Box we can wait till the price come to 277.
regards
Harmonic PatternsLong view. Harmonic pattern. Purely technical my personal view only for educational purpose not trading advice.
Buy Bandhan Bank - SL - 275 - Target 360Bandhan has completed the wave(2) correction of the longer waver with 1st target of 360 and SL 275
BandhanBank : Bachega ya jayega?BandhanBank : Bachega ya jayega?
its trading in major level at weekly chart.
RSI is not supporting price
If it break we may see downside.
For Educational purpose only.
