big move expected in south bank , accumulate with 29.5 sl for 36-38 targets
SOUTHBANK is on the verge of breaking the Symmetrical Triangle pattern. It has strong support at 28.30 and has been trading in the range of 28.30 to 29.60 for past 7 days. One can go long on confirmation of breaking above the triangle pattern.
Buy SOUTHBANK above 29.4 SL: 28.45 Target: 30.5
South bank short. SL - 29.15 RSI DIVERGENCE MACD DIVERGENCE
NSE:SOUTHBANK will lead to 49-50 zones if it closed above the supply zones highlighted in the chart on Friday. Whether this or coming .
Stock Posted bad result there is NPI is problem so avoid this stock in this quarter and there 30 is looking like top in southbank for short term so 30 is resistance buy only above that below can sell for 25-23
South Indian Bank on 10% SWING UP
An hammer pattern can be seen implying a possible bearish trend tomorrow.
SOUTHBANK may fall towards 26. Stoploss 28.7
Can call next level in month or so, to TP = 30,35 Didnt fall down much post results RSI also near neutral stage Price to book value: 1.15 (Safe) Price to Sales: 0.81 Sl = 19
Will go down till 22 and high till 25, 27 T1 25 T2 27
SOUTHBANK has given a head and shoulder break out pattern i.e bullish in nature, watch near dip for target 28.3/ 31 stop loss below 20.
It is been observed that some of the charts are forming a symmetrical triangle on the daily chart which can provide good returns in coming days. On verge of Breakout: 1. Hindpetro 2. South Indian Bank Successful Breakout: 1. Hexaware 2. SRF Regards
The Chart is having multiple Resistance at this level. Yesterday's price movement at double top region is suggesting a potential short. Pitchfork handler is showing good frequency around it so price may follow it. The Trade is available with small Stop Loss so worth taking risk.
The stock has given Flag breakout today and Bullish Wolfe wave is already in action therefore one can expect the price to reach around 23.50. Good risk to reward