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TheUnlearningOne
Jun 14, 2023 3:43 AM

Bank of Baroda (Bankbaroda) Long

NSE:BANKBARODA1W
BK OF BARODANSE

Description

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The price is at an interesting stage, within 10% of its 5 year high of 206.6.

Breakout above this could see positive momentum.

However, as always, keep a stop loss of 5-8% if the trade goes wrong.

Comment

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In the buying zone. A strong close above 207 will see further upside.
Trend LinesTriangle
Comments
worldlyDingo10715
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What's your short term view on BoB?
TheUnlearningOne
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@worldlyDingo10715, I will wait for it to cross 197 with good volume for a breakout. Below, 170 I would be cautious.
worldlyDingo10715
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170 is too far away from current levels. However, breakout levels look pity nearby. So, let's wait for breakout to be confirmed.
TheUnlearningOne
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@worldlyDingo10715, Also, the stock is nearing its 5 year high... at around 206 levels - which can also act as strong resistance zone. So these zones need to be cleared first
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