Syndicate Bank

Hi Shabbir,

I could see solid W pattern formed in Synd Bank chart. Also Bearish triangle pattern in right side of W Pattern, yet breakout on upside.

My view is can take position with target of 121 with stop loss of 92. I think It will go for correction at 121, again in pull back we can take position with target of 134.

Also RBI policy should be taken into account. Attached both daily and weekly charts.

Let me know your views

Regards
Sujan

 

It doesn't look like a good strategy by getting in with high risk reward and out after some time with small profit then again getting in, It shows there is some confusion about comfortable stop and target and by this strategy some times u can win but what happen when u loose 1-2 call, It will eat all ur profit which u earned previous 4-5 calls. Also this is the way to make ur broker rich and ur self poorer.
According to me if there is any confusion then don't trade in that script and search for new one which is looking attractive and u don't feel any confusion to get in.

About the W, yes there is a good W and break out and about the descending triangle it can consider bearish when break down or else consider it for trend change.
This is my views only, Shabbir plz give ur views to make things more clear.

 

Sujan ! at your wkly chart there is no increase volume at the point of breakout

 

Neither I said any bearish signal, I just said descending triangle can consider bearish when it break down and in this case it didn't breakdown rather then that it break out.
So all bulls signal but according to the target and stop which sujan described is not advisable to consider.

 

Yes we can consider 105 as stop loss. I wouldn't trade in this...just provided analysis.

 

It never matters if Volume is less in weekly chart than Daily. In daily, Volume is accumulating which eventually increase in weekly.

 

Great move in Syndicate bank stock......trading at 120.9, achieved my first target.

 

Hi
Syndicate bank looks promising at 140 with support at 112 resistance 142

whats your view guys.

Regards
veren

 

Hi all
Where is Sujan and Sanjay these days????
No news or update

Regards
Veren

 

I am enetring this stock at 140 levels ..with stop loss of 128
what do you say Shabbir?? or wait for some time before entering???

Regards
Veren