The RBL Bank has recently been forming "Cup and Handle" pattern. However, in daily chart we find a bearish trend owing to the "Bearish Shark harmonic pattern" formation.
The RSI is moving towards support levels, and may move downward. Buy at 174.8. However, if the support level of 174.10 breaks and the chart is still bearish, buy at 166.5-168.95. For long the...
Rbl Bank is forming a Cup since march and completed in July while the Handle is still in formation making a Cup and handle pattern to make a bullish breakout in future.
In 1 hour chart its making same combination of positive and bearish divergence with RSI twice signifying a bullish view in coming period.
In 1 hour chart the price is below 50 days...
#RBLBANK form the cup handle pattern on day chart and on 23 July form Neckline candle that showing bullishness and on 24 July stock form long green candle with High trade and delivery.
Showing Bullish result in Technical Parameter:
CCI is Treading UP
RSI is Treading UP
William %R is Treading UP
Stoch is Treading UP
Aggressive New Long
DI+ is above DI- and...
The stocks has given a breakout before ..-> taken support at 171 level -- again ... expecting a good upside movement
from now ... multiple targets has been given
Targets : 175 -> 177 -> 179 -> 181
1 Put Spread : Sell 165 PE + Buy 145 PE ==> breakeven 161.5
2. Straddle : Sell 175PE + Sell 175CE ==> breakeven 156-194
may this is good time to buy it.
it will go upside according to chart pattern.
Rest thing depends on market mood.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking any Decision.
I am not SEBI Registered Financial Advisor.