Bank Of Baroda : Sell/Short @166-166 Target 160-157-153 SL 170

sgor1980 Updated   
Dear Rearders,

As shown in the chart, the stock of BankBaroda is breaching the lower support line of the channel line drawn. Secondly, the stock seems to be in corrective zone having completed its corrective wave '(a)' @169.65 of its possible 'flat' type correction. Considering the same the possible irregular '(b)' may get extended beyond the start of wave '(a)'.

It looks good to sell or go short in the stock @165-166 with an ultimate target of 153 being 138% retracement of wave '(a)' with stop loss of 170.

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Trade active:
Bank of Baroda;

Current Market Price : 160.50, first target almost reached.
Wait for target 153.
Trade active:
Revision in target price and stop loss of BANKBARODA.
Current price : 169
New target price : 153, 140 & 119
New Stop Loss Price : 175

Any related update in this regard would be made as and when felt necessary.
Trade closed: stop reached


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