South Indian Bank
CMP 17
Well we’re tracking this and waiting for confirmations.
Like other PSU banks, these are early days – need few more confirmations to take any significant positions.
If we have to ride this, we would take first intial position if it trades and closes above firtst red line ie. above 18.50. Green line is initial support level (S/L)
Next additional position beyond 21.50 and would add more if it starts closing above 21.80 .
Then we would ride the whole wave 5.
Weekly Chart
DCB bank – as of now PSU banks look better than private banks , so avoiding the analysis here.
Disclaimer – Not invested.
This post is just an effort for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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