Hey Folks!
Every time when i share an idea my purpose is to reduce the entry levels to the minimum so that Guess work and Random entry can be avoided.
Keeping the above statement in mind today i sharing the levels for NSE:INDIANB that will be helpful in planning you building a swing position.
Rules are simple as you can see in charts that there are two colour...
NSE:INDIANB
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Indian Bank chart is looking strong on monthly chart and trading near a breakout zone we can consider Indian Bank above 450 with sl of 380 for long term .
Indian Bank attempted the multiyear breakout at the level of 430-390. At this level indian bank attempted a breakout on monthly chart and than comes in a consolidation. Formed Doji & Shooting Star which symbols a consolidation within a range.
Further stock needs to give breakout and close above the previous two months levels i.e 460.
Volume spark and than...
I hope it has given a break out of the box and also a cup and handle pattern so target 1is 232 @and target 2is 255 in next 6month.
It is my personal viewpoint and is not an advice or investment tip.
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