BANKBARODA
As indicated in my other post related to PSUBanks (https://in.tradingview.com/chart/CNXPSUBANK/pjNhqTwQ-CNXPSUBANK/ idea, which looks to be bullish.
BoB in PSU Banks is looking a good setup and here is my overall analysis for this
On Monthly timeframe, price has given a falling channel breakout and also given multi year breakout of 2018 high and has retested as well it
On weekly time frame, stock has given a rounding bottom breakout and is now forming a falling wedge kind of pattern at 38 to 50% fibo support zone of the run from June low to Dec high. Breakout of this can lead another bull run in this script and rounding bottom target is coinciding with 100% Fibonacci extension of up move from April 2021 to Dec'22
There is also another view that the stock might be forming a cup & handle pattern on weekly timeframe with below chart formation (cup high = 2017 high)
On daily timeframe, stock is currently in symmetrical triangle, with price testing the upper resistance trendline fourth time and is consolidating near it. Any breakout this time can give a momentum on upside
Also, on daily tf keep the below setup in radar as well
Overall the setup is looking quite bullish here :)
Happy trading
BoB in PSU Banks is looking a good setup and here is my overall analysis for this
On Monthly timeframe, price has given a falling channel breakout and also given multi year breakout of 2018 high and has retested as well it
On weekly time frame, stock has given a rounding bottom breakout and is now forming a falling wedge kind of pattern at 38 to 50% fibo support zone of the run from June low to Dec high. Breakout of this can lead another bull run in this script and rounding bottom target is coinciding with 100% Fibonacci extension of up move from April 2021 to Dec'22
There is also another view that the stock might be forming a cup & handle pattern on weekly timeframe with below chart formation (cup high = 2017 high)
On daily timeframe, stock is currently in symmetrical triangle, with price testing the upper resistance trendline fourth time and is consolidating near it. Any breakout this time can give a momentum on upside
Also, on daily tf keep the below setup in radar as well
Overall the setup is looking quite bullish here :)
Happy trading
Note
BoB good move todayNote
from 166 to 173Note
166 to 180Note
183 till nowNote
BOB 190+Note
BOB 199+ Now everyone is talking about BOB with a big cup & handle breakout :)
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