BANDHAN BANK – LONG TERM BUYING PROSPECT

Dear All,

On Charts, Bandhan Bank has moved into sideways correction for a long time now. Wave 1 has been completed after making 5 moves as a diagonal. Price is running into Wave 2 since 30.11.2020, Almost a year of correction phase after an impulse, Price retraced up to 61.8 fib ratio. There is a possibility, Price might retest those levels or another possibility of breaking down those levels to take out all the liquidity present below the double bottom support levels. Definitely buy on dip strategy for a long term target of 690-700 !! SL will be 190 Levels.

Please manage ur risk accordingly.

Please find below the weekly chart of Bandhan Bank for your reference.

Learning Here – Elliot wave Analysis.. Wave 1 – Diagonal, Wave 2 Correction !

Demand Zone Marking.

Cheers

Sid