Tamilnad Mercantile Bank — Rounding Bottom (Pre-emptive Setup)
📊 Tamilnad Mercantile Bank — Rounding Bottom (Pre-emptive Setup)
CMP: ₹570
Stop Loss: ₹491
Targets: ₹611 / ₹800
🔍 Price Action View
TMB is showing early signs of a base formation, and the structure is gradually shaping into a rounding bottom. With Bank Nifty acting as a leader, participation in select banking names is improving.
Key observations:
Long consolidation after decline → selling pressure exhausted
Gradual curve in price action → rounding bottom formation
₹611 is a key confirmation level; sustained trade above this opens room for higher targets over time
This is a pre-emptive trade, not a confirmed breakout yet. Hence, patience and discipline are non-negotiable. The idea is to stay invested, not to time aggressively.
⚠️ Trading Approach
This is a patience trade, not a momentum chase
Controlled position sizing is essential
Let the price structure play out over time
Avoid over-leveraging; give the setup enough room
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
CMP: ₹570
Stop Loss: ₹491
Targets: ₹611 / ₹800
🔍 Price Action View
TMB is showing early signs of a base formation, and the structure is gradually shaping into a rounding bottom. With Bank Nifty acting as a leader, participation in select banking names is improving.
Key observations:
Long consolidation after decline → selling pressure exhausted
Gradual curve in price action → rounding bottom formation
₹611 is a key confirmation level; sustained trade above this opens room for higher targets over time
This is a pre-emptive trade, not a confirmed breakout yet. Hence, patience and discipline are non-negotiable. The idea is to stay invested, not to time aggressively.
⚠️ Trading Approach
This is a patience trade, not a momentum chase
Controlled position sizing is essential
Let the price structure play out over time
Avoid over-leveraging; give the setup enough room
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
Trading ditutup: target tercapai
high made 770
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.