The ignored child of Bank nifty.

There is a certain direction to Bank nifty and for people who feel they have missed the rally of stock here is a dark horse that seems to be completely neglected for reasons unknown (non technical). With repeated rejection from the resistance point and a strong consolidation on the upper side of the channel within which the stock is moving one can be certain that the breakout is on the horizon. With the same in consideration one can execute a long for the same keeping in consideration 2 supports that have been marked by arrow. I don't see a target of 1400-1420 impossible in this series.
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The pink resistance point has been a mischievous kid and will take some volume to take out followed by the most optimistic target of 1450
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Kindly take a analytic view and then initiate the above position based on your risk appetite.

Dagangan aktif:

the short term support missed by a whisker. Trade with caution

Pesanan dibatalkan:

The stock is bearish and as of now exiting in loss makes sense