Karnataka Bank has taken support around 147. RSI and MACD are bottoming out and pushing prices up. Short term target would be around 180.
pSAR, MACD and Stoch indicating reversal and this can be a better opportunity to enter longs in Nifty. SL would be 9150 (spot rate).
CD leg is in formation on daily chart of Eicher Motors Ltd. Target prices 25550, 26640 and above.
Inverse head and shoulders pattern is in formation on the daily chart. Target prices are 280, 288 and above in short term. Buying on dips can be more profitable.
Just found a bearish cypher pattern in bank nifty index, on daily chart. MACD shows signal line crossing over MACD line, indicating a downtrend and RSI is indicating that the bank stocks are over bought. 0.236 and 0.382 retracement levels will be 19788.54 and 19371.6 respectively.
On daily chart, Eicher Motors is near over bought zone and has formed a bearish gartley pattern. 0.382 and 0.5 retracements would take price to 23925 and 23085 respectively.