Observation: -
The chart above shows a period where Karnataka Bank had a strong volume increase from last 12 months.
I observed that the stock followed by a Rising wedge pattern breakout which often signals a continuation of the price rise.
The stock gives 5 years breakout of the Trendline, and 3 years break out of Rising Wedge Pattern.
A sustainable move above Rs 82 level could be considered as an upside breakout and expected potential upside target of Rs 99, Rs120.
The overall chart pattern of Karnataka bank signals long trading opportunity.
Penafian
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The chart above shows a period where Karnataka Bank had a strong volume increase from last 12 months.
I observed that the stock followed by a Rising wedge pattern breakout which often signals a continuation of the price rise.
The stock gives 5 years breakout of the Trendline, and 3 years break out of Rising Wedge Pattern.
A sustainable move above Rs 82 level could be considered as an upside breakout and expected potential upside target of Rs 99, Rs120.
The overall chart pattern of Karnataka bank signals long trading opportunity.