Hello and a warm welcome to this analysis Triangles are a prominent feature in wave 4 (Elliott Wave Theory). Price remains within a narrow range with lower volume for a very long stretched time as the preceeding Wave 3 has had a tremendous run resulting in cooling down in trend for sometime. In this weekly time frame a triangle in wave 4 is coming to an end. Post...
Canara Bank Seems to be forming triangle pattern 20% Gains over next month. RSI also indicating range breakout.
Nifty PSU Bank Index gave a trendline breakout on the log chart today. It is possibly heading towards 2650. A closing above 2650 would activate inverted head and shoulder targets of 3345 and 4245 respectively (Where weekly resistance zones exist).
Federal bank on a weekly time frame nearing Break out. Volumes are also good. Also, 200 and 50 EMA cross-over might happen soon. Watch this level closely. Whole PSU Pack is looking very attractive
CUB is nearing a triangle break out. Volumes are also coming. Watch out for this level, it can give very good movement in the coming days.
DATE: 23/5/2021 INSTRUMENT: CANARA BANK TREND: BUY TIME FRAME: 3 HRS CMP: 153.05 BUY ABOVE: 153.50 STOP LOSS: TGT 01: 157.55 TGT 02: 168.55 DISCLAIMER: We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
add PSUBANKBEES at 23.98/22 we seen 25.7/27.4/30+ view invalid below 19.95 cbsl
Strong MACD , StocRSI parameters, and the recent pullback show that if the trend continues for the short term, we can see the Scrip hitting the two target levels. The Parabolic SAR has already given a BUY signal, with all parameters in tandem we can see the same happening. Disclaimer: The analysis is only for illustration purposes only. Please consult your...
PNB is looking very Bullish, Closing above 200 EMA, Retraced 50% from the bottom as per Fibonacci Levels with Huge volumes. Good Positional Trade. Target 1 - 38.35 Target 2 - 41.35. If sustains above these levels hold for 45 and 50 levels.
SBI looks to have formed a bottom and heading for upside targets. If it makes a lower high i.e fails to break previous highs around 230 and then breaks past 193 on the downside then consider the trend to be reversed.
Now if ICICI gets close to the red zone, the resistance would be considered as week resistance. This weakening of resistance 3rd time might push up the stock with good potential in another reset.
Hello Guys, 1) With multiple issues popping on like DHFL 2) no much actions taken after IL & FS 3) more conversions from Debt to Equity like SBI's JetAirways deal 4) Farmers loan waivers Considering these points, PSU's Banks situation is not good so it will look correction. Plotted a H& S targeting to H&S neckline, we can review after the Neckline break. Trade...
Indian PSU banks index is looking more down before real buying starts ( Updates on this chart on monthly basis!!!)
CNXPSUBANK need 30pct haircut.. back to 2016 lows....
It's a good fundamental trade, everyone being about the PSB Bank sector theme ! Giving good opportunity to enter it and hold for new highs in it.
Technically SBI has broken Trend Lines and Supports, Volume is Increasing on Down Days, BankNifty is Looking Weak and There is also a possibility of a third wave... Targets Can be seen at 190..
This seems to be in a triangle. An up move can come following a dip for wave e. A corrective structure is also forming in SBIN. So both of them can move up together. Tomorrow is RBI policy outcome. Let's see.