The stock has shown week in price movement and long term investors are booking profits , if this becomes the resting of bull trend then the stock should rebound for next move as per 3 level indicated here , if 1st level is respected @ 38.6 % then the stock will see far higher prices in near feature , if the rebound takes at 2nd level then the stock would see...
Dear Readers,
A corrective pattern has been witnessed in Karnataka Bank giving a rise to opportunity to sell or short in the same. One can go short in Karnataka Bank with a target price of 135.15, 133.25, 131.30, 127.40 and 125.00.
Short covering can be done after any move beyond 147.40.
Disclaimer: All views, charts, comments, post or any materials of any kind...
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security Which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
Karnataka Bank resumed uptrend in the last few days. Expecting price to break the recent highs of 130. Yesterday price moved above the faster moving average. Entry was made near the support from 5 min chart.
Price is congesting in a tight range. Keltner Channel is within the Bollinger Band. Once Keltner moves out of Bollinger, there is typically a nice move. Wait for direction and plan your risk.
This stock looks like travelling in B-Wave Triangle which will be valid till the top@199 is intact. Intact means KB should not close above 199. If KB respects the trendline coming from 210-199- Likely I am expecting C-leg to finish this sequence which started from 285 highs in 2008.
This stock will be on radar & shall wait to see its price action in coming days.
