Key Technical Observations
Current Price: ₹1,406.70 (Near key resistance)
Key Levels:
Support: ₹1,350 (Strong Base) → ₹1,300 (Major Swing Low)
Resistance: ₹1,500 (Psychological Level) → ₹1,600 (2024 High)
Trend Indicators:
TEMA (5,9,20): Bullish alignment (short-term momentum intact).
SuperTrend (10,3): Green line → Uptrend confirmation.
Price Action: Consolidating near ₹1,400; breakout above ₹1,420 could trigger next rally.
Fundamental Checks (Screener.in Recommended)
Sector: Banking (Private Sector Leader)
Growth Drivers:
Loan book expansion (+15% YoY)
Stable NIMs (~4-4.5%)
Consistent ROE (~16-18%)
Valuation: P/B ~2.5 (Fair for sector).
Trade Execution Plan
✅ Entry Zone:
Conservative: ₹1,380-1,400 (Dip near support)
Aggressive: Above ₹1,420 (Breakout confirmation)
🛑 Stop-Loss: ₹1,320 (Below recent swing low)
🎯 Targets:
₹1,500 (7% upside)
₹1,600 (14% upside – Trail SL)
⏳ Holding Period: 1-3 months (Banking stocks trend with Nifty).
Confirmation Signals
Volume: Surge above 20-day avg on breakout.
Sector Trend: Monitor Bank Nifty (support at 46,000).
Earnings Date: Next quarterly results (check Screener.in).
Risk Management
Avoid if RBI hikes rates unexpectedly.
Exit if price closes below SuperTrend line.
Final Verdict: Strong technical structure + sector tailwinds = High-probability trade. Pair with fundamentals for conviction.
Current Price: ₹1,406.70 (Near key resistance)
Key Levels:
Support: ₹1,350 (Strong Base) → ₹1,300 (Major Swing Low)
Resistance: ₹1,500 (Psychological Level) → ₹1,600 (2024 High)
Trend Indicators:
TEMA (5,9,20): Bullish alignment (short-term momentum intact).
SuperTrend (10,3): Green line → Uptrend confirmation.
Price Action: Consolidating near ₹1,400; breakout above ₹1,420 could trigger next rally.
Fundamental Checks (Screener.in Recommended)
Sector: Banking (Private Sector Leader)
Growth Drivers:
Loan book expansion (+15% YoY)
Stable NIMs (~4-4.5%)
Consistent ROE (~16-18%)
Valuation: P/B ~2.5 (Fair for sector).
Trade Execution Plan
✅ Entry Zone:
Conservative: ₹1,380-1,400 (Dip near support)
Aggressive: Above ₹1,420 (Breakout confirmation)
🛑 Stop-Loss: ₹1,320 (Below recent swing low)
🎯 Targets:
₹1,500 (7% upside)
₹1,600 (14% upside – Trail SL)
⏳ Holding Period: 1-3 months (Banking stocks trend with Nifty).
Confirmation Signals
Volume: Surge above 20-day avg on breakout.
Sector Trend: Monitor Bank Nifty (support at 46,000).
Earnings Date: Next quarterly results (check Screener.in).
Risk Management
Avoid if RBI hikes rates unexpectedly.
Exit if price closes below SuperTrend line.
Final Verdict: Strong technical structure + sector tailwinds = High-probability trade. Pair with fundamentals for conviction.
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.