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
Disclaimer
I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.
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