RBLBANK trade ideas
RBl Bank - Double BottomPlease find my analysis for RBL Bank solely for Educational purpose-
Analysis :-
Perfect Double Bottom Formation - Downward price trend, Two valleys at absolutely same level, Peak within bottoms at around ~9%, Volume moving down from Left to Right
Confirmation - Above 133.25 but is a good bet at current stage
RSI and Stochoastic cleary showing Oversold trajectory.
Fibonocci Retracement levels indicate 133 and 149
Regards,
Aashish
RBL BANK SHORT SELLINGI HAVE BEEN ANALYZING RBL BANK FOR LONG AND NOW IT HAS BRAKED IT'S TRENDINESS.
TARGETS ARE 115 AND THEN 105 IF BREAKS 105 . THERE IS NO STOPING
[Alert!] RBL bank crash !RBL bank gona crash as per elliot wave principle, might happen over few weeks to months.
HEADING FOR DOUBLE DIGIT, BE CAREFUL!SELL ON RISE... SEEMS WEEK AND HEADED TOWARDS TWO DIGIT......
TGTS FOR INTRADAY 154-149-145.
Short covering accepted in RBL Bank.buy @ 172
stop loss @ 164
upside target @ 200
Technical :- there is a positive divergence formation on short term chart. So you can go long for 2 days prospective.
RBL bank has beaten more than it should. Expect short bounce in this dead cat.
Use strict SL of 200.
Go long if breaks 380RBL BANK is forming inverted head and schoulder pattern.., pattern neck line at 380.., go long if 380 is broken..,
[Bounce] RBL Bank Buy IdeaIf we follow up RBL Bank closely and forego one incident of fake breakout created by .25 points, it is in a downtrend. In the middle, we can also see it formed higher low leading to a compression pattern and broke down further continuing its journey towards the downside.
On Friday, it gapped down with the rest of the market, due to fear arisen by Yesbank’s fate, the market decided to price in the panic of people.
Now, We have a gap. If that is breached, it will trigger short covering because the extent of the gap is quite huge here! We can safely consider the high of the candle succeeding the gap down as an equivalent of higher high.
Although the market has priced in extra risk premium with a magnificent red candle, the better choice will be to selling at the money put options instead of futures if the trade setup triggers. The high premium will give us a good buffer from the volatility and the risk (as well as reward) will be also significantly low compared with buying naked futures.
RBL Bank trading near its Lifetime low - FPI Buy Position
Positive Points:
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- Stock is trading near its lifetime low.
- Also, RSI positive divergence can be seen on the weekly chart.
- A bulk deal done by FPI(erstwhile FII) for 256.48 rs.
Negative Points:
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- India is struggling with TRUST factor with some banks like PMC, YesBank etc. Keeping in mind, banks like RBL Bank, may be affected badly.
