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If breaks 39.2 can see 37.80 37.30 levels
Below 43.50 it will test 40 Levels
After being hammered since almost a month (June 13), looks like some buying interest is coming back to PSU banks.
I can see that Syndicate BankNSE:SYNDIBANK has formed a Double Bottom around 38.75 levels with a positive RSI divergence.
It seems that the stock is slowly moving towards the first target of 43.85.
Good opportunity for option writers here with a ...
PSU Banks were in headlines and got hammered, however it seems that all bad news have been discounted as prices are forming triple bottom/Rectangle reversal patterns. These simple pattern are easy to trade for short term keeping the target of upper boundary. It offers an opportunity of 8-10% capital appreciation. It is also called Reversed Three Buddha candlestick ...
The pattern has formed the pattern and trading above the confirmation line. Interestingly PSU_Banking stocks are doing well recently. RSI has also shown divergence in oversold zone and is above 50 now so one can conclude that downtrend has arrested now at least for time being. One can take advantage of the setup for trading/investing.
Disclaimer : All stock ...
Cup & handle Pattern Breakout, if sustains above 95-96, then expect 20-25% upside over 6-8 weeks
Best shorting level 93-95
Syndibank short based improper bearish butterfly
Wait for formation of green candle and long @65 for a target 90 (Resistance). Will use TSL post 5 point gain.
Keeping SL @61(support)
SYNDIBANK gave breakout above important trend line, expected move further highs.
Go long with target of 78 & 80. SL-75
strong res is 76 and 81 supp 69 and 65
SYNDICATE looking also so weak if stock trade below 67.5 then stock will hit 64-60 also sl at 71
Syndicate formed Evening Doji Star with Bearish Trend Line Touch. You can see fall in coming Days
This price action is trending up with good volumes and now breaking out from downward trendline. It can also be said as a short term trend change. It is good time to cover shorts and buy long positions in this one with first target to Fibs of 61.8 at 77-78 and stoploss of 73
The price action broke previously held support levels of 73-73.50, now it may reach out to next support levels at around 70-69. Good time to short with stop loss of 75