Bank of Baroda Monthly

I am putting this chart again because of person
Here the view is different form Weekly , the Bullish Failed Extended range Candle explain different story about the Stock moving up ward direction , Normally when we see the Failed Bullish ERC candle with Low as strong holding base then the stock will rally further up ward after absorbing all the sell order
1st Level of Peak resistance is at 191.70 and 2nd Level of Peak resistance is at 196.25
3rd and Last level of Resistance Peak is 216.30
Why I am writing this ??
Answer : We are now experiencing Bull Market from the Start of 2017 and we are also experiencing huge capital inflow in stock market since November 2016 demonetization, if the institution decide to move ahead of all the barriers then You have to think again before shorting , this Bull Market have come after 10 Years of week market , so it will be very difficult for any person to know what will happen next ,
So i would argue that one has to look all the possibilities then have to take decision of short selling in bull market
Regards

Comment:

The truth of candlestick charting which gives the Human behavior in detailed manner , the price movement is so strong that everyone who failed to understand must be worrying after loosing the money Many have shorted listening form their so called Tips provider and lost the money , I received dozens of personal messages of losing the money , even after i have clearly explained why we should not be going for short selling despite the area is long time seller area
The price have made peak high of 194.35 which was initially projected and explained in the above description which i have mentioned as 2nd level of peak resistance (196.25) , if price brakes 196.25 then you can expect to make new all time high before heading downward
Regards

Trade closed: target reached:

From 166 to 202 Made Good amount of returns 22 % for 100 Days
Regards