BANDHANBNK trade ideas
How do the Breakout traders get trapped? Part- IIPsychology and Behind the scenes stuff:
1. At the BO, there was a massive bullish candle with a very high volume. This took out the previous resistance level.
2. The retailers saw this opportunity because the price closed above the previous resistance. Hence, they entered Longs.
3. The BO was followed by a Doji and then a Bearish candle. This indicated no Bullish follow-up.
4. The next candle was the last try to trap more longs before breaking down. This is indicated by the good volume on this candle.
5. Finally the price broke down with back-to-back bearish candles and reached the previous swing low.
Warning candles:
1. Doji + Big Bearish candle indicating that there is no follow-up on the BO
2. Relatively good volume on doji indicates significant selling pressure. Never a good sign for a breakout.
3. A bullish breakout must always be accompanied by a good follow up, else it cannot sustain. Bullish BO needs good bullish candles, NOT dojis.
P.S: I am not saying the fakeouts can be avoided. But there are a few cases where fakeouts can be avoided. Also, this is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Descending triangle breakout and retested and pinbar candle formDescending triangle breakout and retested and pinbar candle formed at retest zone
RETEST ZONE IN BANDHAN BANKbreakout can be seen in Bandhan bank [/b ] earlier in chart, So we can consider current movement as an Retest zone. If you get it near or around 225-228 zone can be perfect zone to buy or also can go long at CMP. 367.15 is the ultimate target. go long with a strict stop-loss of 320 level (only on closing below basis).
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE STOCK/SHARE/SECURITY.
bandhan bank breakoutformed a falling wedge pattern..gave a breakout with good volume..retest has be done..can go for buying side!
Bandhan bank !!! 40 % for short termCup and handle in making !!! 40 % upside possible in less than 3 months (study purpose only)
NSE:BANDHANBNK Intraday callNSE:BANDHANBNK
Futures & Options
Today seems Call option could result positive for bandhan bank
[Positional] Bandhan Bank Buy IdeaNote -
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 at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy 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. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Bandhan Bank: Time for reversalBandhan bank is one of the major supporting bank of bank nifty. But from some days it is showing downfall.
What is the reason ?
The biggest reason behind this downfall is its increasing NPA (Non- profitable- Assets) which means those assets which bank provided as loans but the consumer not paid their loan yet now.
On the daily chart rounding bottom pattern is forming but there is existence of three black cows backing the stock to downfall.
The major support is on 315.80. If the stock bounced back from this level then it can show the levels of 322 and more
So, add it in your watchlist.
BANDHAN BANK-LONGStock has been making lower highs, but we have 20-50 EMA crossover and rising RSI, indicates the stock can gain upward momentum.
Stock has been in accumulating zone from April 2020 which can be seen in volume. if the stocks breaks levels of 350 we can see upward movement till 400++.
Take long positions carefully.
For Educational purpose only.
Bandhan bank analysisBandhan bank cup and handle pattern about to breakout. Sustaining above support zone.
