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.
交易結束：目標達成
high made 770
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