Skip to main content

Trade 4: CSBBANK

 Buy CSBBANK with a stop of 220

BUY = 255

STOP = 220

TARGET 1 = 300, TARGET 2 = 330+


Daily Chart of CSBBANK



Why CSBBANK is a buy?


This stock was trading in the range of 215 to 235 since mid-August, 2020. On November 6, this stock closed at 255. Thereby giving a breakout. 


This breakout is backed by a solid consolidation of about 3 months. This stock can be expected to touch a level of 300. At the level of 300, it may further consolidate before moving again upward. Our second target is 330+.



Comments

Post a Comment

Popular posts from this blog

Trade_2_2024: Bhagyangr

 Stock Ticker = Bhagyangr Buy Range = 100 - 105 Stoploss = will average after confirmation*.  Why I will average instead of SL? - fundamentally good stock - This is in copper sector. Good demand in coming quarters of copper  Chart of Bhagyangr
Post a Comment
Read more

Trade_1_2024 : Canara Bank

 Long Canara Bank stock: 1st Buy Range (420 - 480) Monthly Chart of Canara Bank Why Buy Canara Bank? Technical Reasons: 1) Strong momentum 2) Breakout is there on Monthly time frame from 430 Fundamental Reasons: 1) has a good dividend yield 2) available at low valuation/ low PE. Current PE is around 6 Macro Reasons: 1) Banks NPA are low and manageable  2) India's GDP to grow around the range of 5% to 7% per year for a decade. It itself is a very positive sign for the banking sector has a whole.
Post a Comment
Read more

Risk management lessons from DHFL Stock

Dhfl , a quality stock with good track record  delivered phenomenal returns from 2016 to Aug. 2018. But things changed thereafter . the month of September , 2018 changed things upside down . during this month , the scrip opened at 669 , made high of 691 , then started crashing down , made a low of 252 and closed at 274 . all this happed in a time span of one month . With the benefit of hindsight , one lesson from this episode is to have a pre determined exit level. Before entering a trade for whatever timeframe ( be it one day or 10 years ) , its important to have exit levels , analysis of risk . etc . if these things are thought beforehand , one can let the profits run , with less bothering. Many traders/investors think that , the falling stock will rebound from these levels but 95% or more of the time , the stock price does not . again they think , this time it will rebound from such levels  , but that too doesn't happen . this fantasy goes on , until their loss becomes ve...
Post a Comment
Read more