Another setup has come to my mind and that is Allahabad Bank. There is a falling wedge pattern + double bottom confirmation.
As I have already told you that PSU Banks are looking good for short to medium term given my “BUY” recommendation on “ORIENTAL BANK OF COMMERCE”.
Now another setup has come to my mind and that is “ALLAHABAD BANK”.
I have done a chart analysis so that you can be able to learn.
There is a falling wedge pattern + double bottom confirmation+ OI Build up (9%)
Daily Chart of ALBK is attached below for your reference:
(Click on image to enlarge)
Daily Chart
BUY – ALBK above 74 for Target 80-85-90!
The 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. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication of future returns.
Comments
Log in or sign up to join the conversation.