INDBANK analysis!The stock initially formed a head and shoulders pattern following a bullish trend. Typically, at the right shoulder, the price was expected to decline. However, instead of forming the right shoulder, the price broke upward and moved aggressively higher. This sudden upward movement indicated a strong demand zone. The price then pulled back to this demand zone, successfully showing a reversal, confirming the bullish trend. Overall, the chart looks promising for a swing trade.
INDBANK trade ideas
INDBANK | Good for 20%+ profit ??NSE:INDBANK
Cmp : 30.20
Entry : Cmp or Closing above 31
Target : 7%+ Always
Stop Loss: According to one's Risk Reward ratio
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2 AUG,2021 INDBANKYou can see a, symmetrical triangle formed, which is a bullish sign, if the candle breaks the resistance, one can enter the trade and now the question is, when to Exit? So you can exit near Rs35 to Rs37, Don't forget to place stop loss, @ Rs31.85. Depend how much you can risk.
NOTE: This is only for Educational purpose only, not a Financial Tip. Trade according to your on analysis.
INDBANK : Failling DivergenceFailling divergence in INDBANK. Was good for long position for a 1:1 R:R, but unfortunately I missed the trade. ☹️
However, 38.5 is the strong resistance and looking at the RSI probably it will retrace from there.
This is not a trade recommendation. I missed the trade but still sharing the view.
Any suggestions are welcome. :)