Bandhan Bank poised for a strong upside of around 700%Since December 2020 price has been moving in a down trend, it has formed a complex triple correction WXYXZ pattern.
Looks like the wave II correction is over now and price is at the initiation of wave III.
Wave III target should be around 910 level, which is around 330% from CMP and can be achieved in medium to long term (1 year approx.)
If you are a conservative investor, you can buy once break out happens at the trend line resistance at around 250 level.
Stop loss @ 170
Other targets highlighted as per your investment horizon.
Do your own due diligence before taking any action.
Peace!!
Bandhan
Bandhan Bank at Demand AreaAs per analysis, NSE:BANDHANBNK is trading at demand area of 217 and respect's support level of 210. This could be best risk and reward opportunity to go long at level of 217 with strict stop loss of 295 (-22). My expected upside target would be 247 (+30) & 264 (+47). It mat take 6-9 weeks to get upside levels.
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Bandhan Bank : Reversal from 20EMA#BANDHANBANK after QoQ result stock was falling but got the support over 20EMA. Forming the symmetrical triangle pattern on 15 min Chart.
Showing Bullish result in Technical Parameter:
CCI is treading UP
RSI is treading UP
Stoch %k crossed above %D
DI+ is treading above DI-
Got support over Bolinger Band mid line
ATR is decreasing and now below 20
Short cover
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Support : 347.80 and 343.65
Breakdown : 349.50
LTP : 353
Breakout : 366
Short Target : 359 and 368
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Positive & Negative Point:
1) Neutral in Daily/Weekly and bearish in monthly chart
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(Disclaimer: This is only for educational purpose and paper treading.)