Oriental Bank is trading at the lower end of upward moving channel.Daily and hourly RSI
are showing positive divergence. Also, counter is trading close to 50% retracement
of entire rally from 58 to 119 which is 88. 40
. Risk : Reward ratio looks favorable plus indicators are suggesting probability of reversal from current level. In fact, the most positive is the long term bullish trend
which will remain intact till the time it is closing above 77 on daily basis (higher top higher bottom structure).Trader can buy around 90-88.50 with stop loss of 86 (hourly closing) for target 1- 98 and target 2-105.
Stock has moved the was as we predicted in our report on 12th April.