ShanmukhamKumarappan

Going Long Jammu and Kashmir Bank

Long
NSE:J_KBANK   JAMMU & KASHMIR BA
NSE:J_KBANK

On the Daily Chart , a couple of things to note are :

1. Price has crossed over a resistance zone , and has now taken support on that
2. Price gapped up over that resistance, indicating very high buying pressure that had price sail over resistance
3. The gap was filled
4. There is a bounce from the resistance turned support, with a small tail indicating that price was again rejected ( bounced from) support

Place SL at 27.55 just below the gap closure. Trail stops till Trendline Resistance is reached.