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PNB : BULLISH TREND.Strong MACD , StocRSI parameters, and the recent pullback show that if the trend continues for the short term, we can see the Scrip hitting the two target levels. The Parabolic SAR has already given a BUY signal, with all parameters in tandem we can see the same happening. Disclaimer: The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
NSE:PNBLong
by finogent
CITYUNION : CITY UNION BANK SHOWS a Trend Reversal.Strong MACD, StocRSI parameters, and the recent pullback show that if the trend continues for a day or two we can see the Scrip hitting the two target levels. The Parabolic SAR buy signal is yet to come, with all parameters in tandem we can see the same happening. Disclaimer: The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
NSE:CUBLong
by finogent
IDBI BankIDBI Banks firstly had a breakout of the cup and handle formation. It was immediately followed up by the flag breakout pattern. These breakouts have led the stock to rally for more than 33% in merely 7 trading sessions. The stock opened up with a circuit of 20% on NSE today but witnessed a strong sell off due to several factors such as rising US bond yields, imposing lockdown in several districts of India, global markets ending up in red etc. This cool off was seen in many stocks as the indexes ended up in red despite opening up with more than 1% gain. The reasons for stock selection are as follows: 1. RBI has removed it from its PCA framework. It was placed under it in May 2017. Although this removal is subject to many clauses, however, it is expected to increase the business of the bank. 2. The bank appears to be a perfect fit for the theme of privatisation of the Indian Government. Currently, GoI holds close to 45% of the stake in the bank and it is expected that the holding will either be diluted or sold off to the private players. 3. LIC which acted as a saviour for the bank and holds a 51% stake in the bank is also looking to sell its stake under the privatisation theme of GoI. 4. The stock has seen unusual volumes in the past 7 trading sessions. ** Point number 3 and 4 are speculations based upon several news articles or sources. Levels (Considering the volatility in the market): Buy - CMP (if sustains the level of 42) or 40 (if retraces) Target - 49+ SL - 38 NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
NSE:IDBILong
by mishraparimal09