CSB Bank . Results Update - Weekly Setup Chart

CSB Bank.   CMP - 227.85

All Time High - 374.

Latest Results: Q4 2021-22.   Posted Net Profit of 131cr as against 43 cr last year.   

On the Result day, the stock surged 10% but could not cross 20WMA. However, the weekly chart shows that it has given a descending trendline breakout as seen below. 

If this stock  manages to sustain  this breakout, and stay above 230 on weekly time frame, targets of 254 and 280 are achievable in quick short term. 

However cautious approach needs to be followed despite the breakout. 

Look at the daily chart above, the key levels are 227 to 230. Despite a huge volume spurt,  the price has not breached 230. Once the price sustains  above  the Green, on daily chart setup and settles above 230 on weekly setup, this stock  is a hold for 330. 

For study purpose only. Not a  recommendation. Information.