BANDHANBNK trade ideas
Bandhan BankTechnicals
Triangle pattern formed from the time of Covid has just given a Break out with strong Bullish candle
Fundamentals
Bank faced difficulty in recovery of its loans issued post Covid from Jan'21 and that was the primary reason for fall in its price
Although there was a rating downgrade on Bank-NCD by an analytical company yesterday. As per my understanding, Bank has written off most of its non-recovery items and it is the time to revive from this point.
Please let know if there is any other view so that i can correct my process of learning.
Bandhan Bank Bottom Buy
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Breakout in Bandhan BankNSE:BANDHANBNK has given a strong breakout from a triangle formation with good volumes in today’s session. It looks like a descending triangle but the breakout has occurred on the upside. Volumes look good as well.
Height of the formation gives a 25% move and the stock closed 4.4% up today from the upper trendline so there is likely healthy upside remaining.
On the risk side, previous swing high is yet to be taken out. If the stock fails to break the previous swing high at 259.25 in next few sessions then the idea is invalidated.
Bandhan Bank making Cup & Handlebandhan bank is making cup and handle pattern at 1 hour timeframe, on daily timeframe it has already made a double bottom, which means the uptrend at larger timeframe is already in place, now it is taking a pause before resuming the original trend.
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BANDHAN BANKStocks trading near their 5 Day high as well as Bullish Derivation with rising volumes and closing strong , indicating a possible breakout
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BANDHAN BANK - DOWNTREND BREAKOUT" DOWNTREND PATTERN BREAKOUT "
Entry Level : 260
SL : 225
Targets : 300,335,370+
52wk High : 275.90
52wk Low : 182.15
Mkt Cap : 405.30 B
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Bandhan BankBandhan Bank appears to be poised for a potential reversal, supported by several significant factors:
1. A daily Golden cross formation is currently in progress.
2. Gann timeline dates of significance are approaching, specifically on October 3rd and 20th.
3. It is positioned at a critical junction, where important trendlines intersect with Gann levels.
The confluence of these factors suggests the possibility of a strong rally emerging from this intersection, potentially in the coming days.
Watch out for Closing Above 273. Keep in Watch listHoping to get closing above 273 in coming few days.
If it does. It will be coming out of long time resistance channel.
Fireworks will start if it gives closing above 273. If it fails, we might see further fall to the levels close to 200 to 220.
Keep at the top of watch list.
Ye Bandhan toh pyar ka Bandhan haiThe stock price has retraced above 50% from the previous downtrend in the daily time frame. It has formed an ascending triangle formation with a flat resistance and higher lows in support trendline with an increase in volume. The breakout from this pattern can take the stock its recent high levels again.
Entry - Abouve 246
Target - 272
Stop Loss - 229
Bandhan bank trying to break it's bondages (bandhans)Bandhan Bank Ltd. is a banking and financial services company present in 35 out of 36 states and union territories of India, with 6,140 banking outlets and 3.07 crore customers. The Bank provides range of personal, business and NRI banking facilities.
Bandhan Bank CMP is 243.40. The Negative aspects of the company are declining cash from operations annual and MFs are decreasing stake. The Positive aspects of the company are improving annual net profits, low debt, FIIs are increasing stake and zero promoter pledge.
Entry after closing above 247. Targets in the stock will be 255 and 273. Long term targets in the stock will be 291 and 314. Stop loss in the stock should be maintained at closing below 182.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.