South Indian Bank - Cup & handle breakoutNSE:SOUTHBANK has broken above cup & handle pattern.
Go long above 33.30
T1 35.85
T2 38.60
T3 41.65
SL 30.50
SOUTHBANK trade ideas
SOUTHBANK Heads NORTH : Breakout PlaySOUTHBANK breaks out of a daily consolidation with support from volumes. MACD indicator supports well with a positive cross as well as rising MACD Histogram. That means both trend and momentum are in favour of this move up. On the upside, immediate target comes in at 35-36 zone.
Classic pattern of rounding bottom Classic pattern of rounding bottom positional buy between 27-30 SL 20 Trgt 45-50 (time frame) 6-8 month
southbank- h&s continuation patternbig move expected in south bank , accumulate with 29.5 sl for 36-38 targets
South Indian bank - Symmetrical Triangle PatternSOUTHBANK is on the verge of breaking the Symmetrical Triangle pattern. It has strong support at 28.30 and has been trading in the range of 28.30 to 29.60 for past 7 days.
One can go long on confirmation of breaking above the triangle pattern.
South Indian Bank will lead to 49-50 levels soon. NSE:SOUTHBANK will lead to 49-50 zones if it closed above the supply zones highlighted in the chart on Friday. Whether this or coming .
SOUTHBANKStock Posted bad result there is NPI is problem so avoid this stock in this quarter and there 30 is looking like top in southbank for short term so 30 is resistance buy only above that below can sell for 25-23
South Indian Bank - Upward trendCan call next level in month or so, to TP = 30,35
Didnt fall down much post results
RSI also near neutral stage
Price to book value: 1.15 (Safe)
Price to Sales: 0.81
Sl = 19
Head & shoulder breakout SOUTHBANK has given a head and shoulder break out pattern i.e bullish in nature, watch near dip for target 28.3/ 31 stop loss below 20.
Educational 19: Triangle Pattern Formations (Watch-list)It is been observed that some of the charts are forming a symmetrical triangle on the daily chart which can provide good returns in coming days.
On verge of Breakout:
1. Hindpetro
2. South Indian Bank
Successful Breakout:
1. Hexaware
2. SRF
Regards
SouthBank SHORT Multiple ResistanceThe Chart is having multiple Resistance at this level. Yesterday's price movement at double top region is suggesting a potential short. Pitchfork handler is showing good frequency around it so price may follow it. The Trade is available with small Stop Loss so worth taking risk.
Southbank Long Wolfewave and Flag The stock has given Flag breakout today and Bullish Wolfe wave is already in action therefore one can expect the price to reach around 23.50. Good risk to reward
