AbhishekHSinghCMT

BOB- Looking for Bigger Trump Tower@150-155

Long
AbhishekHSinghCMT Updated   
NSE:BANKBARODA   BK OF BARODA
4
As expected from the levels of 155-160 in the previous update- there was a sharp fall but even sharper recovery from 135 lows on account of Trump victory, suggesting that larger correction is still not done & I shall be looking for some move above- where it will complete its (X)-wave & start a move downside for (Z)- wave.

So, in all scenarios- if one gets an opportunity to see if BOB holds the zone of 152-155 -that could be an opportunity to have a bullish bias for targets of atleast 170-172 & going above 175 shall look higher, but strict stops below 173 because expecting a larger correction on weekly chart so traders can get trapped on higher end -expecting more.

Trading Strategy
Look for 152-155 zone for support & bullish bias for target 170-172 zone & above 175 for some push more but strict entry stops just below 173


Trade active:
12:48 Hrs 15th Nov2016

Day's High@175

BOB opens gap up at 165's & managed to kiss the target zone 170-172 & day's high-175. Book & Exit

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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