July 21, 2017
KARNATAKA BANK (NSE Cash)
154.75 - 156
5 - 10 sessions
(Time: 13:15 IST)
After a strong up move from the levels of 100 to 180, prices witnessed resistance around previous swing high (181) seen on the
monthly chart and have consolidated in a range for last few weeks. At the current juncture, prices are breaking down from the
consolidation forming a bearish reversal pattern known as 'HEAD N SHOULDER'. The said pattern also marks lower top lower
bottom price cycle which is a bearish formation. In addition, 'RSI - SMOOTHENED' is already trading in a lower top lower bottom
price cycle supporting the sell call.
Hence, traders are advised to sell this stock at current levels and on bounce at
156.50 for a
143 over the next 5 - 10 sessions. The stop loss should be fixed at
022-3935 7600 Extn: 6844
July 21, 2017
Last 10 recommendations
Recom. Buying/Selling Range CMP
104.50 - 105.50
583 - 587
3810 - 3830
1566 - 1572
668 - 665
1000 - 1009
167 - 168.50
Exited at 126.50
1047 - 1056
Booked Profits at 1125
634 - 639
*Indusind Bank dividend adjusted price.
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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