Time to buy? Prices of 5 banking stocks near supertrend support
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Trend Indicator
Traders make use of the Supertrend indicator as it gives precise buy or sell signals on a stock. The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier.
So, here are the 5 banking names wherein the buy signal is generated as the closing value is higher than the SuperTrend metric and also the price is nearing the SuperTrend support zone when SuperTrend value is within 3% of the low price of the respective trading day.
So, here are the 5 banking names wherein the buy signal is generated as the closing value is higher than the SuperTrend metric and also the price is nearing the SuperTrend support zone when SuperTrend value is within 3% of the low price of the respective trading day.
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CSB Bank: Buy
Supertrend: 264.02| Signal since: 56 days| Closing price as on June 14: Rs 275
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ICICI Bank: Buy
Supertrend: 913.71| Signal since: 49 days| Closing price as on June 14: Rs 939.8
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SBI: Buy
Supertrend: 566.02| Signal since: 41 days| Closing price as on June 14:Rs 576.55
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Bandhan Bank: Buy
Supertrend: 249.16| Signal since: 39 days| Closing price as on June 14: Rs 252.55
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Tamilnad Mercantile Bank: Buy
Supertrend: 398.31| Signal since: 35 days| Closing price as on June 14: Rs 410.2