AbhishekHSinghCMT
Short

Bank Baroda- Will BOB bang the ceiling 190-200?

NSE:BANKBARODA   BK OF BARODA
954 9 17
It was really exciting in the BOB counter as well when I first realised few months back that Y-wave shall come close to end in the zone 190-200- which unfolded as per my expectation- but took lot of time.
We all know financial markets never move in straight line so did this complex Y-wave as well.

What Next?
Zone of 190-200 has been rejected thrice on earlier occasions & this time could combine with channel top resistance & finally this complete move again looks very choppy & puzzled from the lows of 109.35

So, the time has come that traders should be careful in the 190-200 zone & as I always repeat, do not jump in the trade -closing your eyes- let market show us the way- where it wants to head, then nail it as early as we start getting some clues- yes that is the zone I want to sell.

Stops are not clear in present stage, but we will take one step at a time, let BOB bang the ceiling first in 190-200 & we get the feeling

You would also love to read my earlier analysis

Melting Below 177-178- will trump trendline support


Look for retracement from 162 Highs


Bank Baroda 2016 Diary
Trade active: 09:55 Hrs 6th Feb2017

Last Price@191.20

Happy that it enters the zone as discussed yesterday
Trade active: 11:39 Hrs 6th Feb2017

Last price@188.30

Once it bounces close to day high in the zone 190-191 & fails to take out 191.70 which is high for the day & later falls below 187 then we will put stops above recent high which is below 191.70 & look to sell.

Trade active: 13:51 Hrs 6th Feb2017

Last price@185

Started giving feelers that it is looking down so get in if you get the bounce or looks 192 could be the top.
Trade active: 13:18 Hrs 7th Feb2017

Last Price@190.20

Got the bounce to day's high between 190-191 which is very close to yesterday's high@191.70

Risk Takers can sell at current price @190 if they can afford to lose 2 points with stops above 192.

Safe traders can trade -once it starts moving below 187.50-186.50 & sustains below that zone, then one can sell with stops above 192.
Trade active: 15:33 Hrs 7th feb2017

Last Price@186.45

Awesome we got in the trade -Right at the top@190-191 zone - Yesterday's High @191.70

So we practically lose nothing - zero risk- an awesome it will turn out if falls below 183-180 zone.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Perrfect :D
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Thanks for your comments, you had already mention trade active. what does it mean?
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@AMBRISH, Trade Active means post is active -I always keep updating time wise & price wise as price moves ahead & we keep getting some clues from market.
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank You.
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Short at 190?
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@AMBRISH, Ambrish we don't have confirmation - It is like jumping the red lights -sometime one is lucky to get through but luck never supports you everytime. In confirmation, you can miss some move, but you are safe in reaching home. Atleast your parts not broken- God forbid, after all He helps those who help themselves. Have patience -it is not just writing & to forget -implement in your strategy, you will realize that you are in seventh heaven & all trading methods will look similar to you later.
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Is this for a weeks holding or intraday?
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AbhishekHSinghCMT sudhakar.bng93
@sudhakar.bng93, Yes you could but be careful as well because it is late on upside & here market can give jerk or sudden break.
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nope it moves back down...
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