Einstein15

BANK_of_INDIA Flag Breakout

NSE:BANKINDIA   BK OF INDIA
91 3 8
After the rally up, like most banks, BANKINDIA             is making a flag. Volume decreasing below average indicating the breakout in either direction is near.
Thank you very much for your view on BOI , Thanks
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i am stuck up in short position , kindly let me know down side whats the view in this month expiry ?
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@praveen38, Well, i'll give you the general view of it. On weekly frame it did break outta 6 year long downtrend.If it continues to move higherthe first place it can find some resistance is on the pink level.
But as u can see, its still hasnt broken the lower_low and lower_highs. so its not a trend reversal yet.
snapshot


On daily timeframe below-->
It made huge leg up comparing its otherwise small daily candles. IT MOVES VERY SLOW, small movements everyday on average. AFter a long POLE up, it can make a flag before breaking in any direction.
But again after RBI's monitory policy announcement, it can zoom without making a flag.so watch out!!Trade safe.
snapshot

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