AbhishekHSinghCMT
Short

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

NSE:ORIENTBANK   ORIENTAL BK OF COM
562 views
21
562 14
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.
May 12
Trade active: 14:38 Hrs 12th May2017

Last Price@161

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

May 14
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.
May 16
Trade closed: target reached: 12:23 Hrs 16th May2017

Last Price@157.50

Day Low@155.50
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
This time i am riding on it !
Reply
@ashokakbari, Good.
Reply
beautiful
Reply
Hi Abhishek,

Forgive my ignorance but could you please share how you arrived at 161% at 172 with wave 1 being 134.

Thanks
Reply
@inderjeet05, Wave 1 distance =32.2 units * 1.618 = 52 units approx -projected from wave 2 bottom so 172 -result.
Reply
wow amazing, it was super quick
Reply
what a great fall
Reply
@ashokakbari, Nice Naa!
Reply
ashokakbari AbhishekHSinghCMT
@AbhishekHSinghCMT, Not just nice.. Awesome, Superb, Excellent, Fantastic, you are not man you are Superman!! I wish i could ride it. but whatever i have ride on your idea which never go fail!
Reply
Nice view Abhishek. Good opportunity for those who missed the recent Banking bull run.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out