BANDHAN BANK - DOUBLE BOTTOM IN FORMATION
Symbol - BANDHAN BANK
CMP - 151.12
Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking.
A double bottom pattern is currently in formation, and the price is undergoing a consolidation phase. At this juncture, the key level of focus is 154, which represents the breakout zone for this consolidation (Buy Trigger). If the price successfully sustains above this level, a potential upward move towards 168 can be anticipated. Therefore, I intend to initiate long position in Futures at the buy trigger level. Additionally, I plan to add more position around 150 level and will hold long position with a stop loss at 144. The target for this trade is 168, which implies an expected upside of approximately 8.40% from the entry point.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
CMP - 151.12
Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking.
A double bottom pattern is currently in formation, and the price is undergoing a consolidation phase. At this juncture, the key level of focus is 154, which represents the breakout zone for this consolidation (Buy Trigger). If the price successfully sustains above this level, a potential upward move towards 168 can be anticipated. Therefore, I intend to initiate long position in Futures at the buy trigger level. Additionally, I plan to add more position around 150 level and will hold long position with a stop loss at 144. The target for this trade is 168, which implies an expected upside of approximately 8.40% from the entry point.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Trade attivo
Future buy order triggered at 154Nota
Added more at 150
Avg Buy price now is 152
Holding with 144 SL
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