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INDIANB Ascending Triangle Breakout

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INDIAN BANK (NSE:INDIANB)  
serikarprakash  
NSE:INDIANB   INDIAN BANK
Trend Analysis Chart Patterns indianbank INDIANB ascendingtrianglebreakout breakoutpullback
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trendanalysis chartpattern indianbank indianb ascendingtrianglebreakout breakoutpullback
  • From a weekly timeframe perspective, INDIANB did a strong breakout with good volumes from an Ascending Triangle pattern
  • Stock was taking support at the 50 EMA and now has broken 200 EMA on the upside
  • Can wait for a minor pullback to happen and then enter based on the daily timeframe.
    snapshot

    Has a good potential on the upside with a Risk/Reward of 1:6

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