Bank has completed wave three Now it in wave 4....since wave 2 was sharp and deep therefore, wave 4 would be side ways and seems to form a Traiangle... Stock may consolide here for some time.....
2.8 Years #Multiyear #Breakout at #SOUTHBANK (South Indian Bank Ltd) Weekly Chart. Its #Outperformed #Nifty
BSE: 532218
NSE : SOUTHBANK
What Is the Inverse Head and Shoulders?
An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to...
South indian bank heading toward 20
Below book value-28
Earning hints toward all time high.
Ultimate target can be 30+
Intermediate target 20- than one can hold for 28
SOUTHBANK:- Stock is about to give breakout after 5 years keep an eye on monthly chart
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the...
Thesis: Long term-Elliot Wave Analysis of South India bank reveals a possible long term ABC correction to Fib 50-61% levels with positive divergences developing on the long term momentum indicators and oscillators like RSI showing strength coupled with volume on key break-out levels. The breakout might be the start of new up-trend with a new cycle of impulse...
South Indian Bank provides retail and corporate banking, para banking activities such as debit card, third party financial product distribution, in addition to Treasury and Foreign Exchange Business.
It has closed above 200EMA
RSI has given a break out and it is moved up from the oversold zone.
MACD bullish cross over has happend.
Till the breakout volumes were dried up and on the break out volumes are comparatively larger.
This could be good opportunity to get in for long.
Please comment your views.
Thanks,
Buy - Only Near 9 / After Sustaining Above 10 For A Week.
SL - Below 8 Daily Weekly Closing Basis
Target-15-20-25++
Time Frame - As Per Your Mind.
Penny Stock But Looks Very Good For In Portfolio.
Must Have This At Thrown Away Prices.
Buy- 9.50-10
SL - 9 Below Daily closing Basis..
Target - 14-18-20++
Time Frame - 3 -4 Months
No One Can Get The Risk Reward This Much Favorable..
Grab It With Both hands..
But For Patient Investrors ONly..
Very high probability setup in making let price break previous low, there is also trend line support look for bounce from there, how far it can go is kinda early to tell, monthly view suggest it might go pretty high, but still be cautious after it break previous high.
Good luck
South india bank is gearing up and is bullish on chart.
RSI above 50% with positive momentum.
MACD is also in favor.
20 and 50 DMA is acting as good support and favoring the upward movement.
Price action is range bound and is just bouncing back from its lower support.
We can see the upward journey very soon.
Disclaimer: This is for educational purpose. This is...
