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ASHOK LEYLAND, STATE BK OF INDIA, INFIBEAM AVENUES L, UTTAM VALUE STEELS, RELIANCE COMM LTD, ICICI BANK
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Levels explained on chart..
Swing breakout above 125
Will you keep your long? Its consolidating and if you have the stock with you, you already attained zen. But short-term people will play the swings because of the low-risk high reward benefit as it is near the channel.
127 is an important level to be broken for more upside
1) Resistance at triple top
2) Bank is unabale to show credit growth in last 5-6 quaters
3) Though it trades at less than book value , trend has been negative
4) BN bearish likely to pull it back to 107 levels
5) Moving in a channel
Karnataka Bank historical weekly chart shows that the major trend is still up. It could either go sideways from here or fall further towards the pitchfork bottom before bouncing. So every dip up to 80-90 zone for next couple of years is a buying opportunity.
Maintain strict SL 74
NSE:KTKBANK is showing signs of strong reversal with last few days having above average volume.
Long above 127.30
T1 - 134.50
T2 - 143.50
SL - 122.70
See the chart. (Educational purpose only.)
Look for sell set up near 114/113.50 and then one can go short on Reversal in 1 Hour with stop above it , This one will go very sharp , and it can be fast too ,
if failed to move and cracked , then look for sell set up
Possible intraday trade, breakout of trend line..
Just for tracking purpose.
Suggestions are invited.
Breakout on the charts for targets 135 +
We have seen some possible setups in the market, So I have decided to share my some knowledge to other traders who want to understand price action analysis and I suggest to the new trader to do not make analysis more complicated, make it simple. I hope it will help and this video is for education purpose only, I do not recommend to anyone for buy or sell, Do your ...
As we discussed in our last analysis of Karnataka bank, we have seen a trend change signal and finally I have seen a control of buyer in this zone so I take a trade.
We have seen downtrend in Karnataka bank from last July 2017 but today we have seen first sign of change in trend with momentum and triple bottom and bounce from support and if price go in our favour will hold for tgt @170 So its pure technical and we trade only on technical