RBLBANK, PERFECT EXAMPLE OF 6 FACTOR CONFLUENCE (CHART# 298)

2020年7月25日

RBLBANK is forming multi factor confluence for multiple Trend lines along with Cup & Handle pattern which shows bullish nature post breakout zone of 188-190.
Immediate Breakout stands at 188 but safe traders should wait for 190 levels where true breakout from all the below factors will be reached.
1. Cup & Handle Pattern (Yellow)
2. Blue TL running since May' 19 (Long Term)
3. Yellow TL running since Feb' 20 (Mid Term)
4. Pink Horizontal Support Line
5. White TL since June'20 (Short Term)
6. Good Volume

Setup looks good for intraday but as some of these TL are running since long time, this can be positional as well provided NIFTY trend is also bullish. Currently I am not confident of NIFTY as 11100-11150 is strong resistance zone,

FOR MORE INTRADAY RECOMMENDATIONS & CHARTS REACH OUT.

Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
If you receive any benefit from idea, appreciate by your likes/comment. If you earn from my ideas, kindly consider donating small part of your profits to those in need.
Reach out if you wish to learn simplest form of price action and willing to put effort in practice.

Watchout my previous ideas to understand how easy it is to understand price action and earn from it.

Cheers!
Piyush Gupta