Bank Baroda - Pandora Box opened with WXY Evil@177

Wow! - 177 - looks to me more evil. The Box 175-177 Kissed.

What an impulsive fall from 191.70- but later making a low at 163 -it was all pandora's box which opened so far as WX out of WXY structure as an alternate which I am moving in present case -instead of impulsive 12345 which I thought to be the primary case earlier.

Post 163 - the whole up & down move took almost 30 days as compared to the fall from 191.70 high to 163 low which was done in 7 days so I am thinking it is more evil WXY -where Y is the next leg which could start in next trading sessions.

Moving below 170- likely it should move in the next leg down so we need to watch the next session carefully. Risky Traders can look for a bounce above 174-176 as selling opportunity with strict stops above 176.50

Trading Strategy
Scenario- 1 Risky - Selling on the bounce between 174-176 with strict stops above 176.50 for targets 153-157

Scenario-2 Selling below 170 for target 153-157 & touching the trump trendline.

You would love to read my previous update- All the below mentioned analysis are nested analysis- you will find earlier analysis inbuilt

Sorry for the repeated analysis

Picking the top close to 191.70

Buy setup for possible 175-177 zone

Bullish Crab at 157 for 170+

Crab opens account @158- Done & Out at 177
Trade active: 15:23 Hrs 30th March2017

Last Price@173.65

Sold close to day high as suggested between 174-175 with strict stops above 176.50
Trade active: 10:25 Hrs 31st March2017

Last Price@172.80

Going below 170 likely we will be in better position for downside move for selling done between 174-175.
Trade active: 10:52 Hrs 31st March2017

Last Price@172

172 gets broken

Next support 170 which can act as temp support for a bounce if happens.
Trade active: 12:28 Hrs 31st March2017

Last Price@174.15

Wit Strict Stops above 176 - if you can afford to take 2-3 point risk then sell or look to sell below 170.
Trade active: 19:22 Hrs 4th April2017
Last Price@172.40

BOB is struggling to go down & flirting in the zone 170-172 so likely we can expect a push up & decide further for selling from the top means close to 175-176 with stops above 177.

Trade active: 18:42 Hrs 5th April2017

Last price@174.55

We got the push to 176.30 & it turned down to close at 174.55- Here we have no risk as entered at high again.

Trade active: 12:23 Hrs 7th April2017

Last Price@172

for some stop losses might have run as it was 2 Rs - Risky Calls are like that only - they take your stops & run in your favour again.

We will not hurry up either we will wait for bounce again or sell below 169 later
Trade active: 18:55 Hrs 9th April2017

Last Price@168

Our stops were run out by small amount of 1 point at 176.50 made high at 177-177.50 later BOB puked even below 169 which looks weak with 177 as critical level.

Trade active: 20:27 Hrs 11th April2017

Last Price@174.70

Last Price@174

Bounced & retraced 80% of the fall from 177 - deep retracement - we will wait for BOB to start falling below 174- if it starts then we put stops of day high & trade short -& later it should dip below 170 also then it will confirm that BOB has some weakness.
Trade active: 10:43 Hrs 12th April2017

Last Price@172

Current Low@171.25

Happy -It falls sharp here as well & update yesterday below 174 -looking to sell.

Trade active: 10:45 Hrs 12th April2017

Last Price@172.30

Kindly Book Profits if you can't take risk of selling more.

Going below 170 -only now it falls next
Trade active: 10:03 Hrs 13th April2017

Last Price@176

Keeping 170 intact downside - it pushed again up close to previous highs of 177. We shall be looking for selling opportunity on weakness on topside
or Going below 171 break of mini double bottom - we will sell later.

Trade closed manually: 18th April2017


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.