ishaagarwal782

RBL Bank Cup and Handle

NSE:RBLBANK   RBL BANK LTD
RBLBANK
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 Moving average and the long term MA has crossed above the short term MA implies it will fall more to complete the channel i.e.. the support line of handle.
it has successfully touched the 0.786 level of previsious bulish swing i.e.. 162 and will fall till 0.886 level -inverse Fibonacci retracement.

I can be 100% wrong.
Do your own analysis before trade.
Happy Trading.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.