RBLBANK trade ideas
RBL BANK inside descending traingle, break down can be happen RBl BANK is in a down trend making lower low and higher low waves and then created a Descending Triangle. In RSI Trend continuation Convergence can bee seen clearly, In price action creating downward line by Lower high and in RSI Higher high.
Levels are mentioned in fibonacci.
RBL is trading in a range 105 to 137Short below 102... One can trade between 105 to 137.
Longs only closing above 140.
Dash To Trash ContinuesOver the short-term stocks that have been hit the hardest, like RBL Bank, are continuing to mean revert to the upside. Money is rotating out of Nifty Pharma, Nifty Fast Moving Consumer Goods, and other areas that have led the recent rally and is now flowing into other areas like Nifty Financial Services that have yet to participate to the same extent. In this chart we're looking at RBL Bank confirming a failed breakdown and bullish momentum divergence by closing back above its April 3rd, closing low near 110. As long as prices are above this level, then these conditions suggest further upside in the near-term and mean reversion towards our first target of 210. Additionally, it's our view that strength in some of the worst stocks like RBL Bank is evidence of risk appetite among market participants and suggest further near-term upside for Indian Equities as an asset class.
RBLBANK - GO LONG WITH A RR OF 1:3 IN 2 WEEKSRBLBANK - GO LONG @ CMP WITH A SL OF 263 AND A TARGET OF 372 BY 16 MARCH
RBL Bank - Bearish Bias - Short at current levels.RBL Bank - Bearish Bias - Short at current levels.
SELL RBL AT THESE LEVELSRBL BANK LOOKS IN A CORRECTION LEVEL ALL MONTHLY, WEEKLY AND DAILY CHART PATTERNS. IT WILL MOST LIKELY TO BE COMING DOWN AND TOUCH 320 LEVEL AND GO UP IN UPWARD DIRECTION. I SUGGEST SHORTING THE STOCK FOR THE NEXT 2 SESSIONS.
RBL - waiting for direction
RBL bank , one time hot favorite for the investors reminds me of the phrase rags to riches.
I have enlisted the various years in which the trend lines have been very helpful to ensure wise money management by fulfilling one of the 2 investment rationales
1. Buy Low, sell high (knowing the various trend lines helps to know where a low could be and where a potential high could be)
2. Cut your losses if the trend has changed and be wise to relook at your strategy. They don’t say for nothing that Cash is King
In the year 2020, price has largely moved within the price range of 310 to 390
A close above 2019 resistance line of 413.90 may give us some sign of potential change in current trend which seems to be sideways.
Will be posting more notes on this in a later chart too
Keep looking for more.
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RBLBANK looks good as long as above 325!RBLBANK trying to come out of LHLL ( Lower High Lower Low )
CMP 345
TGT 380 / 390 / 460 / 482 / OPEN
SL below 308
Trade Idea for RBL BANK StocksIf we stay above 345 level then this can be the possible scenario, first target should be achieved and if inverted h and s gets played then extended target are there as well but expecting so early that h and s will play wouldnot be a nice decision.
