Oriental Bank -Careful with the breakout@172-Lock your profits

Look for a pullback in the zone 140-145 for Oriental Bank - if at all it comes in the desired zone, which will retrace current wave by 61.8% as the desired zone for taking long opportunity in future.

The rally which started in Late2016 -looks to complete minute wave iii (circled) at 172 once it starts falling below 165-167 zone- we shall look for a pullback in minute wave iv (circled) which retraces 61.8% of wave-ii -iii in the zone 140-145.
Wave-iii (circled) travelled 161.8% at 172 of wave-i (circled)distance.

In future if 140-145 zone offers support then Oriental Bank can be thought of taking longs for target atleast 172 back & above as well.

Later, we come for a review.

Trading Strategy
Going below 165-167 - One should be careful to lock their profits & look for support zone 140-145 for re-entry in the future.

Trade active:

14:38 Hrs 12th May2017

Last Price@161

What a fall has started - Look at the candle size.

Trade active:

10:15 Hrs 15th May2017

Last Price@161.75

Day Low@158.60

Next Selling or short position only below 158 or we wait for the bounce upside.

Trade closed: target reached:

12:23 Hrs 16th May2017

Last Price@157.50

Day Low@155.50