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.
@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!
VijaySharma
⋅
Nice view Abhishek. Good opportunity for those who missed the recent Banking bull run.