There's a possible double bottom formation in Paytm. Right now, the stock is in the process of forming the 2nd bottom, and 700 needs to be taken out for the pattern to be confirmed. An early entry can be taken here with a strict SL at 500, which is the primary support of the last bottom. A 2nd round of buying can be made near 700 (when confirmation is received)...
Instrument: BankNifty
CMP: 39010
Target: 40,500
SL: 38850
Time estimation: 1-2 weeks
The zone from 38800-38900 has been crucial for BNF in its previous breakout. The zone acted as a resistance thrice before the last breakout and now it is being retested as the support post the breakout. The Bollinger band in hourly time frame has acted as a support and can be...
