Stock was trading in a perfect downward channel before the government infused the recapitalization (news unexpected/not anticipated/not factored in)
The stock saw a robust breakout from the channel with a huge gap-up
Stock recommendation is strong because usually after break-out with huge gap up the price tend to cover the gap and in this case it did try to do that
But little we know it ended up creating a falling wedge pattern which also tends to break-out on the upside whereas rising wedge always tend to break on the downside
NOTE:-"The pattern has a validity of 55% as compared to other patterns, this one is not amongst the few reliable ones but end up giving huge reward
"Considering the PSU banks index and the new breakout of bank nifty to all time high i see further upside in this stock"
TRADE VIEW
BUY @ 380-390
STOP @ 371.15
TGT @ 405/415
The stock saw a robust breakout from the channel with a huge gap-up
Stock recommendation is strong because usually after break-out with huge gap up the price tend to cover the gap and in this case it did try to do that
But little we know it ended up creating a falling wedge pattern which also tends to break-out on the upside whereas rising wedge always tend to break on the downside
NOTE:-"The pattern has a validity of 55% as compared to other patterns, this one is not amongst the few reliable ones but end up giving huge reward
"Considering the PSU banks index and the new breakout of bank nifty to all time high i see further upside in this stock"
TRADE VIEW
BUY @ 380-390
STOP @ 371.15
TGT @ 405/415
Dagangan aktif
Moving nicely creating a piercing line continue to hold!!enjoy!!
Dagangan aktif
holdDagangan aktif
one can book profits or hold on to 405 levels but stock is seeing strong resistance 401!!enjoy!!
Dagangan aktif
WELL ONCE AGAIN CANARA BANK IS ON A ROLL EXPECT TO BOOK PROFITS NOWAND EXECUTE NEW BUY ORDER FOR BTST @398.50 TGT @ 402
ONE CAN HOLDON FOR THE FIRST TGT @ 405
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.