RBL Bank
1. A small cup & handle pattern breakout is seen on daily chart.2. As per wave count stock looks in bearish pattern, where it has completed 1-5 impulsive waves and now in BC upmove wave.
3. Stock has bounced 38.2% of its entire fall (from 217+ to 156 )till now, still has room for 50% to 61.8% which comes at 185-93.
4. Stock has given trendline breakout.
5. RSI 14 around 45 indicates further headroom.
Indusind Bank
(i) Stock has given trendline breakout and closed above 50dMA
(ii) RSI line breakout, ADX indicating upside.
(iii) Stoploss can be placed below 100dMA (510)
(iv) target looks higher, so good for short to medium term investors
State Bank of India
(i) Trendline and Cup and Handle Breakout
(ii) RSI around 36 is good for entry
(iii) Cup & Handle target is 5-7% away
(iv) Entry above Friday close as the closing is near resistance. Support 188
ICICI Bank :
(i) Inverted Head & Shoulder pattern and short term trendline breakout on daily chart
(ii) RSI 14 at 50 indicating headroom for upside.
(iii) Closed above 50 as well as 100dMA, so dips can be used to enter for H&S pattern targets
(iv) Support at breakout (364) and stoploss at 100dMA level.
(v) Crossed Fibonacci retracement level of 38.2% and closed above that, so expect upside upto 50/61.8% and stay invested.
Axis Bank :
(i) Cup & Handle pattern and short term trendline breakout on daily chart
(ii) RSI 14 at 50 indicating headroom for upside.
(iii) Closed at 50dMA, so enter on sustaining above Friday high
(iv) Support at breakout level and stoploss at 100dMA level.
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