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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Can retest trend line and may make a big move..lets see