SOUTHBANK trade ideas
The Target is Rs20+ in South Indian BankNSE:SOUTHBANK is showing similar patterns like other PSU banks. I have posted Central Bank of India's chart as well and I see huge potential to the Upside in both of them as per the Charts are concerned.
Fundamentals of South Indian Bank are better than Central Bank though.
South Indian Bank - CMP: 8It has made the double bottom and has taken support at the demand zone and move ahead. RSI and ADX also indicating positive bios. Increasing in delivery volume indicated positive movement likely to happen. Price is likely to retrace from the bottom. We can expect the price movement upto 9.60 in the near term.
SOUTH INDIAN BANK EQUITY Levels...01/03/2021 (W Candle)SOUTH INDIAN BANK EQUITY Levels...01/03/2021 (W Candle)
BRKOUT SOONShare has broken long term bear trend from sep 2018 now seems have found the bottom..
this year chart pattern showing "flag pattern " and may see a breakout soon
-Company has changed their CEO 2 months only back..so hoping for new management upliftment
-South Indian Bank on Friday said its board has approved raising up to Rs 1,250 crore through a combination of equity and debt instruments.
-NPA decreasing (YOY)
-if you check bulk deals on dec 3 on this company you can see PORTUGEESE FII investment of 10crs
-Financials are not too bad..its highly undervalued
TARGET 14 by next 6 months !!
BREAKOUT POSSIBLE SOON Share has broken long term bear trend from sep 2018 now seems have found the bottom..
this year chart pattern showing "flag pattern " and may see a breakout soon
-Company has changed their CEO 2 months only back..so hoping for new management upliftment
-South Indian Bank on Friday said its board has approved raising up to Rs 1,250 crore through a combination of equity and debt instruments.
-NPA decreasing (YOY)
-if you check bulk deals on dec 3 on this company you can see PORTUGEESE FII investment of 10crs
-Financials are not too bad..its highly undervalued
TARGET 14 by next 6 months !!
South Indian Bank 1D chart - Careful, its a downtrading chartPlease take entry once u get a proper reversal or breakout from the levels, kindly support my views
SouthBank#SouthBank can be good for long. Good breakout seen with good volume.
200 MA is approaching which can act as immediate resistance.
SOUTHBANK Breakout RetestedSOUTHBANK has created the double bottom before and now beautifully retested the support level again.
SOUTHBANKBuy SOUTHBANK for the target of 10+
Stoploss around Rs. 6....
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Buy for target of Rs 9This stock has been falling and now close to cruical support of 3.90-4.25 ... one can look to enter this one with long & medium term horizon as it can run back to Rs 9 and than to Rs 21 level.
South Indian Bank H&S PatternSIB has made a H&S pattern on the weekly chart. Could correct 56% from here with target of 4.75
