Chart Analysis – Allahabad Bank

As I have already told you that PSU Banks are looking good for short to medium term given my “BUY” recommendation on “ORIENTAL BANK OF COMMERCE”.

Now another setup has come to my mind and that is “ALLAHABAD BANK”.

I have done a chart analysis so that you can be able to learn.

There is a falling wedge pattern + double bottom confirmation+ OI Build up (9%)

Daily Chart of ALBK is attached below for your reference:

(Click on image to enlarge)

Daily Chart

BUY – ALBK above 74 for Target 80-85-90!