China Merchants Bank Co Ltd – Market cap: $141.35 Billion USD
Once again, you are very welcome to my blog. I am expecting that you are definitely reading all my blogs. You are understanding what I am trying to tell in each blog. And how I am giving you a new direction to understand the market, which is not so easy.
But definitely you should try to do some such analysis so that if you guys do paper trade. Then you understand how the confidence field supports and how the resistance comes in it. And the market will not go down according to you at all, this is true. But you should think of downside according to the China Merchants Bank, understand the market that what you can do better in it.
So our blog today is of China Merchant Bank Company, so it is of China Merchant Bank, now if we understand it. Then we will understand one thing that the market is at very certain levels. It was recently made at all time high in 2022. That means we cannot say recently, but it was made in the market in 2022.
China Merchants Bank Important Levels:
In comparison to other charts, the China Merchants Bank performed better in it. Now we will understand one more thing that if we look at 2022. Then almost from February to April, the market has certain levels, those levels are broken by the market. It comes below 50, below 50 it breaks 48, then breaks 46 and breaks 45. Till date the market has not been able to sustain well above that level.
If we understand the market directions well. Then we will understand one thing that before 2023 and 2024, the China Merchants Bank created a very strong support at some levels. Which are around 26, so the biggest support is that the market should not go below 26 so easily.
Whenever it comes here, the China Merchants Bank should get a reversal. But this level is also already very far away. Now we can understand that after this, which support is there, then it is around 30 and 31. That is going below 31 will also be a bit difficult for the market. Because a lot of time market spent here also.
Chart Factors in mind:
The China Merchants Bank has been upset from that level after at least 45 months. And we should see which other such level is there in the market. So in September 2020, the China Merchants Bank gives an upside moment and it crosses 35. Then it spends a lot of time at the level of 38 and 39 as well. So the level around 35 to 40 will also work as an important support for you right.
Now because the China Merchants Bank is currently running around 40. The important thing is that around 40, if the market is seen getting support on these levels. If you see any such moment, after spending some time, if you do your daily analysis there.
You see the China Merchants Bank forming some such level, which can be your reversal moment of upside. If after spending some time the market goes upside after getting sideways. Then that will become a very important time for you.
In understanding the China Merchants Bank, yes the market can go upside here or it can go downside from there. It depends on the price action, so I explain the price action to you in this way. Many times, I tell you that whenever the China Merchants Bank goes sideways at the time of breakout or breakdown. How does the market retest, after that it goes upside, so according to me entry after retest is better.
I hope you have understood this, in this particular blog of yours. I will also advise you to become an independence trader and an independence investor. And I will tell you that you guys should do paper trade, do paper investing. When you get confidence, then you will be able to do a good analysis in the market on your own. Thank you so much for having watched this particular blog
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