nirav5

BANKBARODA possible journey

NSE:BANKBARODA   BK OF BARODA
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3
Happy and prosperous Diwali to you all. My possible observations for Bankbaroda are as below.
I am bit early on this so chances are there that it can prove otherwise.

1. We had a corrective wave 'a' of 5 waves shown as wave '1'. So probably what we can have ahead is 5-3-5-3-5 upside correction.
2. Possibly we are in the D leg of a bearish harmonic setup which can be complemented by above wave counts.
3. Once this upside correction is completed BANKBARODA will resume its downward journey.

In the coming 2 sessions it should not go below 152. 40 (starting point of a corrective wave).

Comment: I was incorrect about the wave count address. However Harmonic pattern is still intact providing C leg does not fall below 150 line.
Order cancelled

Comments

1H and 4H, both time frames shows uptrend. There is a slight weakness in the stock but my prediction is that once stock moves above 175 (currently sitting at 167.85), it will resume UPTREND.
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