BANK OF INDIA – Ready for a Breakout!

🔍 Technical View

• 📈 The stock is forming higher lows on the weekly chart, showing steady accumulation.
  
• 💪 Recently broke out of a small consolidation with strong volume confirmation — a positive sign of renewed interest.
  
• 🟢 Trading above key trendline support with clear bullish structure.
  
• 📦 Multiple demand zones visible below, providing cushion for risk management.
  
• 🧱 Stop Loss placed below the recent breakout candle keeps risk minimal.
  
• ⚙️ The cup-like base formation indicates a potential medium-term uptrend if the price sustains above ₹122–125.
  

📊 Relative Strength

• ✅ Relative strength vs NIFTY has turned positive after a prolonged period of underperformance.
  
• 📈 Momentum indicator turning up from the zero line — signaling fresh participation.
  

🎯 Levels to Watch

• Entry Zone: ₹122 – ₹126
  
• Stop Loss: ₹115
  
• Target 1: ₹138
  
• Target 2: ₹150
  
  Extended Target: ₹165+ (if breakout sustains with volume)
  

⚠️ Risk Factors

• 📉 Failure to hold above ₹115 may lead to retest of lower demand zones.
  
• 🏦 PSU banking sector volatility could bring short-term whipsaws.
  

🏆 Summary

Bank of India is turning the corner technically, with strong structure, healthy volume, and improving relative strength. The setup offers a favorable risk–reward ratio for swing and positional traders eyeing a breakout above key resistance.