Bank Baroda- Bullish Crab @157.35 for 170+ Target

We are still moving in a larger downtrend in BOB from 191.70 Highs. Looks like there could be a push upside as there is bullish crab coming in picture.

Last Call was closed as I was looking for a push upside to 175-177 zone & also suggested that it activates if sustains above 162-163 zone-which BOB did not go through & made day low@157.35

This Bullish Crab has AB leg retraced deep in 80-88.6%, which is outside of textbook zone - as per text AB should retrace 38.2% to 61.8% rest all as per bookish measurement.

Trading Strategy
We shall look atleast for 168 target & above 168 if sustains then 175-177 zone Stops below 153

You would love to read my previous update

Against 143-145 for 190-200

Will BOB bang the ceiling

Catching the Top@191.70
Trade active: 07:45 Hrs 9th March2017

Last Price@159.40

Going below 157.00(modified stop loss) -yesterday's low was 157.35 - we will close the call but keep a watch on the stock as going above 162-163 on sustained basis can take it to 168-170 & above 170 to the zone 175-177.

Safe Trading shall be above 162-163 zone.
Trade active: 11:12 Hrs 15th March2017

Last Price@166

We got a green candle after so many days made a top@167.70 close to our 1st target zone 168-170

Still bullish so holding the same with trailing stops.

Trade closed: target reached: 10:33 Hrs 16th March2017

Last price@168

1st Target Zone of 168-170 Done.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle

Telegram Handle

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.