BANDHAN BANK LONG SETUPTechnical Analysis
Chart Observations:
Price: Closed at ₹151.53
Candle: Strong green candle, breaking recent resistance
Volume: Healthy volume (approx. 4.92M) — confirms price action
RSI: 61.59 — bullish but not yet overbought, still room to go
Structure : Ascending structure since early Feb 2025 — higher highs and higher lows forming.
Key Levels
Immediate Resistance L: ₹153.50–₹155 Watch for breakout confirmation
Major Resistance : ₹163–₹165 Gap area and previous breakdown zone
Support : ₹147–₹148.5 Last consolidation area
Strong Support : ₹141.50–₹143 Higher low and volume cluster
Trade Setup:
1. Breakout Play
Entry: ₹153.60+ (on strong candle & volume)
SL: ₹147.90
Target 1: ₹158
Target 2: ₹163+
2. Pullback Entry
Entry Zone: ₹147.50–₹149
SL: ₹144.50
Target: ₹153 first, trail after
Additional Chart Insights:
RSI is in bull zone (above 60) — shows growing momentum
Structure resembles an inverse head & shoulders in formation — bullish reversal pattern
Volume spikes seen on bullish days — demand is active