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Long Andhara Bank
Buy as per the support and resistance
LEVELS MENTIONED IN THE CHART.
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Check chart for details
support at double bottom
Andhra bank has done with the correction now and should be going back up after hitting the support lines .. witha stoploss of 1 point
ALL VIEWS ARE BASED ON TECHNICAL CHART PATTERNS,
Market Cap: 3,992 Cr.
Current Price: 33.30 vs Book Value: 83.27
52 weeks High / Low 73.45 / 29.30
Dividend Yield: 0.00 %
ROCE: 17.96 %
ROE: -33.30 %
Sales Growth (3Yrs): 3.17 %
Long Andhrabank for 32/34
Based on chart pattern
ANDHRABANK is showing signs of trendline resistance and divergence. Let's see, what happens next.
1. Inside candle
2. Classic Positive Divergence
3. Falling wedge breakout can happen
This one should have been ready for Moving up , but some how this is not moving , it might likely stay in the range , if brakes the current low 31 then its heading for 20 , there is not one can stop it , it has no institutional investors in it , its Major stack holder is Government and until 2019 Election is completed it will likely get any boost
lets see ...
Short suggested at 41.30
For a target of 37
SL at 44 (follow strict)
Happy Trading :)
This stock will likely correct further down ward side ,
It will have Zig Zag move before the RBI interest rate decision , once it hits the 42 Level Expect a Big bang upside move for Life time
It will never come back to this level here after , One can look for Long term investments and also for short term i am expecting 150+ in 3 Months once price hits the ...
It has been observed that after a sudden huge gap up, the price action came down gradually and covered the big gap. Now, it is striving to breakout from the downward trend line in order to revive the trend.
1st Looking to Short on rise , in F & O with reversal , once hit the lower trend line then Looking to GO long for longer term investment
#ANDHRABANK (CMP:64.15) BO on Monthly chart; need to sustain above 60 for validation. RSI broke out in February 2017 and taking support from down trendline. We can easily see it going back to ATH of 180 in 1-2 years time