Since the inception of this scrip, it has traded/followed the falling wedge pattern. There isn't any incentive to go long until there is a decisive breakout out of this falling wedge pattern. Decisive breakout means breakout out of the channel on upper side (for long), and then another candle confirming breakout on a weekly time frame. Also, you can see it has taken support and rejection from the dotted trendline drawn inside the wedge. If the breakout happens this week followed by a confirmation candle next week, go long. Immediate targets (remember its a weekly time frame) should be 365, 430, and 537.
I do see it breaking out very soon as lot of other indicators are in favor of breakout. But we never trade perceptions or predictions or for that matter opinion, we trade when price action tells us to.
Disclaimer: The information provided herein is for educational purpose. Please consult your financial advisor before making any decision.
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I'm having bandhan bank @336 Do i need to averge or just hold?? Can wait for 2-3 months
UnknownUnicorn24887800
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@jai57443, You see the lower and upper band of wedge. If it breaks above upper band, then you will get good price to exit. You are already in loss of approximate Rs 50. Don't average as it is trading inside (middle) the bands. I generally go for long term investment. So, really can't advice if you are here for short term. All I can say as of now its just going nowhere, just trading in wedge pattern.