CENTRALBK (Central Bank Of India) has given Cup n Handle pattern breakout at earlier 32 strong resistance levels with good volumes and price action.
Target: 36.5+
SL: Daily close below 32.
BUY - CENTRAL BANK OF INDIA
CMP - Rs. 30
Target - 1: Rs. 41
Target - 2: Rs. 50
Target - 3: Rs. 66
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Timeframe - 6-18 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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A bullish Rounding Bottom Breakout pattern activated on the 4 Hour chart of Central Bank. One can create a fresh position in NSE:CENTRALBK at 31.50 with a stop loss of Rs. 30 for a target of Rs. 35.
Exit the position if the stop loss triggered on DCB.
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15% possible with a week.
Enter - 29
#Target 1 - 31
#Target 2 - 33
SL- 26
Note : I am not SEBI registered and all Ideas posted by me are for Educational Purpose.
Thanks & Regards,
RK
Central Bank of India has formed Reverse Head & Shoulder Pattern after long down trend.
Can be added at current level between 28 - 29 with target of 33.5 and set Stop loss at 26.
Pattern is forming on hourly chart.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
Go Long above 27.95 for Targets of 31.1, 34.25, and 37.4 with SL 24.8
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with...
Central Bank Daily Chart -
The analysis is done on weekly as well as on Daily TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other...
Central bank of india going to hit 28 (30% + ) upside
hold for 1 - 5 months
enter only after breaking 21.30
note : for educational purpose only . iam not financial advisor from sebi
posted on sep 14 , 2022
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking profit for 1% - 2%
For long-term trades look out for resistance drawn above closing
#Central Bank looking good
Target-53/80/110
SL-16
CMP:28.15 @ 7 Dec 2022
Disclaimer: This is not an investment recommendation, advice, research report, or stock tip of any nature. I am doing this only to understand how to read chart and technical. Strictly for educational purposes only.
