Bank Baroda - 177-173 to give away-Possible Wedge in X-Wave Short

BK OF BARODANSE

Description

⋅ Apr 27, 2017 2:12 AM

Possible Wedge in the X-Wave -Looking to top at 185. Going below trendline & 173 -Likely, the fall should start.

Will BOB Bang the Ceiling at 190-200

Picking the top@191.70

Bullish Crab@157.35 for 170+ Target

Would love to see your comments. More on Bank Baroda in my profile page or search stocks through Search idea box on Home page.

Trade active

⋅ Apr 27, 2017 5:13 AM

10:41 Hrs 27th April2017

Last Price@181

Stoploss - 185 Above

Risky Traders can look for 178-177 target for the day.

Comment

⋅ Apr 27, 2017 9:26 AM

14:54 Hrs 27th April2017

Last Price@183

Bank Baroda also struggling between 180-183 zone so likely we have to wait on sidelines here as well.

Trade active

⋅ Apr 27, 2017 1:52 PM

19:20 Hrs 27th April2017

Last Price@181.40

Key Zone next to be broken is 177-178 for bears to participate. Unless 177-178 is broken it can extend upside.

Post 177-178 -Next Support comes between 172-173

Trade active

⋅ May 3, 2017 5:07 AM

10:35 Hrs 3rd May2017

Good Morning!

Last price@187.50

Key Level- 185

Have a double top@191.70- which is key level for us going forward.

Going below 185 -we will take sell with stops above 192 for target 177-178- Next at 172-173- Later 165-167

Going below 185 if it goes below 183 will give better chances of BOB melting down.

Trade closed manually

⋅ May 3, 2017 8:13 AM

13:45 Hrs 3rd May2017

Last Price@192+

I was looking for 185 & break below for BOB to come down - it is very strong on upside so closing this update which did not activate as suggested above.

Comments

sandy

⋅ Apr 28, 2017 7:02 PM

30 percent decrease in open interest from last expiry to this expiry .huge amount of short covering has happened which has lead to happened this rally. slight fresh long buildup may shoot up to 210-15.

WaveTalks

⋅ Apr 29, 2017 5:30 AM

@sandy, Can be possible once 192 zone taken out, but highly risky setup.

sandy

⋅ Apr 29, 2017 5:50 AM

@AbhishekHSinghCMT, perfect sir

akj91

⋅ Apr 28, 2017 10:07 AM

i shorted BOB May future@186 with SL at 193.Looking at the volumes today it appears to zoom further.What is your suggestion

WaveTalks

⋅ Apr 29, 2017 5:29 AM

@akj91, Oue 1st selling confirmation comes below 177-178 as mentioned in my last update. Let me come back to you again later.

balu31790

⋅ Apr 28, 2017 10:03 AM

SIR I SELL SHORT DELIVARY ON BANK OF BARODA AT 185.5
WHATS UR VIEW PLEASE SUGGEST ME

WaveTalks

⋅ Apr 29, 2017 5:28 AM

@balu31790, Our 1st confirmation was below 177-178 zone as per last update on the post. Let me come back to you again later.

naizycm

⋅ Apr 27, 2017 1:17 PM

excellent explanation :)

WaveTalks

⋅ Apr 27, 2017 1:56 PM

@naizycm, Thanks

piptamil

⋅ Apr 27, 2017 1:01 PM

Great Abhishek