CNXPSUBANK breaks below range of 2655-2700
majorly contributed by SBIN which breaks below support of 256
next support for CNXPSUBANK would be around multi-year support level of 1900-2050
which would mean that SBIN expected to test support in 232-235 range
Head & Shoulder pattern forming.
Head of the current pattern also contains a minor H&S pattern.
Pattern would be complete when price reaches at around 110 - 105.
Better to trade on the short side...
Too early to speculate this but head & shoulder forming in Titan which would complete when price reaches at around 825-830 levels.
Once below 825, price can get support at 800 and below which targets would be 755 and 725.
Colgate-Palmolive broke above resistance of 1175 with today's high of 1189
Channel height of (1175-1025) = 150 is the minimum expected rise from current price.
Support of 920 which was broken last week was retested for resistance.
Short position can be initiated below yesterdays low of 893.50 or as close to 920 as possible.
Risk-reward of 1:2.5
around 24000 should be a good support
also approaching channel wall
this should take around a week to settle
wait and watch..
get ready to close short positions
make list of possible long scrips in banking sector