Central Bank Breakout analysis to buy
Central Bank of India is a commercial bank. The Bank's segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business. The Treasury Operations segment includes dealing in government and other securities, money market operations and Forex operations.
If we look at the chart:
The market has broken multiple bullish pattern confirmations. It has a broken Sideways Range, Head and shoulder, while having a very strong volume at the breakout. If we look at the RSI, its crossing 60 to the upside can be a good sign of long-term bullish for the stock.
Investors of short term traders can proceed with the stock as follows:
you can execute the trade with R:R of 1:2.
Plan of Action:
Buy: above 69.40
Stop loss: 66
Target1: 75.75
If we look at the chart:
The market has broken multiple bullish pattern confirmations. It has a broken Sideways Range, Head and shoulder, while having a very strong volume at the breakout. If we look at the RSI, its crossing 60 to the upside can be a good sign of long-term bullish for the stock.
Investors of short term traders can proceed with the stock as follows:
you can execute the trade with R:R of 1:2.
Plan of Action:
Buy: above 69.40
Stop loss: 66
Target1: 75.75
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