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.)
Bandhanbank
BANDHAN BANK Today low 200EMA while High 200SMA - Level & TargetBandhan Bank said it has seen an improvement in repayments by microfinance borrowers and collection efficiency has improved to 70% in value terms.
Since 5 session stock is showing +ve movement while Today saw High Trade and Delivery with good volume, Because of this stock crossed the 200EMA and touched the 200SMA but closed below 200SMA.
Showing BULLISH in all indicator:
Close crossing last month High
Stock outperforming from Benchmark and Sectoral Index
PSAR is howing Bullish
CCI in overbought
RSI in overbought
Stoch in overbought
MFI above 80
Aggressive New Long
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Support : 371
Breakdown : 386
CMP : 394.70
Breakout : 401
Short Target : 425
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Negative Point:
1) Neutral Risk
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(Disclaimer: This is only for educational purpose.)
Science Backed by Data[BandhanBank Series]: Target 302-327Hi Friends
Bandhan Bank has broken out of Elliot wave Triangle , consolidated, went back intraday and broke up again on good volumes.
Long Positions can be made above 285 for
Targets of
302,
327,
350,
376.
Stop Loss to be used is
282.6
276.9
259
240
Breakout is on higher volumes + Elliot Wave Triangle Breakout + PitchFork Channel for low risk.
For people with lower risk band keep moving higher Stoploss according to pitchfork channel.
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