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with 84.6 sl cmp 87.5 one can take long position for r1/r2( shown in chart)
89 resistance zone
GOOD R/R HERE
Buy with a stop loss
INVERTED HNS FORMATION
ONLY FOR EDUCATION PURPOSE
If the resistance is broken, it's bound to move up in the coming few days.
Furthremore, the candles are breaking the Upper Bollinger Band.
PATTERNS BEING FORMED AT LOWS+ NIFTY PSU GAVE BREAKOUTS AT IMP. SUPPORT LEVELS
Break Out With Volume.
One Year Down Trend Line Break Out.
EMA may act as support.
May be a Stock of September Series.
Trial SL Once in Profit.
Other Details Mentioned In Chart.
Positional View For Eductional Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
After being hammered since almost a month (June 13), looks like some buying interest is coming back to PSU banks.
I can see that Oriental Bank of Commerce NSE:ORIENTBANK has formed a Double Bottom around 71 levels with a positive RSI divergence.
Looks like the stock is slowly moving towards the first target of 86.75 .
Good opportunity for option writers here ...
Oriental Bank making Lower Top Lower Bottom. Confirmed Downtrend
Newsflow is Scary while charts for PSU banks saying attractive risk reward. Time will tell
ORIENTBANK Crashed on NSE close to 11% with Volumes more than 12 times its average and has been below Ichimoku, crossed its recent Resistance level with GAP Down opening an excellent opportunity to go short in the stock.
SELL ORIENTBANK Below 92.6 with Stop-loss of 95.05 and Target 1 at 90.3 Target 2 at 87.95 and Target 3 at 85.6
Sell OrientBank for a target price of 85
More pain to come
Weak technicals and bad news flow
Levels Are Explained in Chart
Orientbank short based on Bearish Bat
Orient Bank at Support & another support is directly at 100
it create Hammer patter a day before yesterday and bullish candle yesterday
Long at/above 116.5 with 110 SL
T1 - 121.56
T2 - 127.74
T3 - 132
SIN WAVE completed..
ORIENT BANK has formed a symmetrical triangle pattern.
A Breakout below 147 can take it to 135/120 levels.
Players have already taken short positions between 23rd to 26th May.
Later some positions were covered.
However a fresh short position is seen in the counter today, with prices falling & OI increasing.
A head scratching data is troubling me.
A very High ...