BankIndia is at an important stage to go up or down
Updated
BankIndia is at an important stage to go up or down :
Reasons/Traits :
• Came to test the trend line
• Volumes are high
• Todays close is higher than recent lower high
• Price above 13/20 and crossed 50 EMA today and inching to 200 EMA
• Price above VWAP
• Increased open interest, high deliveries
What can happen next :
Scenario 1 : Price sustaining above 62.5 levels can take it to 65/67.5/70/75/80/85 levels
Scenario 2 : Price break down below 60 can take it down to 55/50/45 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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Reasons/Traits :
• Came to test the trend line
• Volumes are high
• Todays close is higher than recent lower high
• Price above 13/20 and crossed 50 EMA today and inching to 200 EMA
• Price above VWAP
• Increased open interest, high deliveries
What can happen next :
Scenario 1 : Price sustaining above 62.5 levels can take it to 65/67.5/70/75/80/85 levels
Scenario 2 : Price break down below 60 can take it down to 55/50/45 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Please do like and share this idea. Thanks
Note
Can retest trend line and may make a big move..lets seeNote
still on the trend line...
Disclaimer
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