I hope you can now see how the BankBaroda represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...
Note: This is for educational purpose only.
There seems to be a formation of Inverse Head & Shoulder pattern in Bank of Baroda with rise in buying volume. Moreover, RSI is above 60 indicating strong bullish momentum.
2 patterns are about to happen in Bankbaroda.
a. Double bottom at 33.40
b. Taking support in a downtrend line.
Both of the above things are going to happen at the same level of 33.40. So we might see a temporary pause in the fall. One shouldn't jump into buying by seeing the double bottom pattern because if this pattern breaks then the next support is at 16.7...
Symmetrical triangle pattern broken to the upside .. lets wait for the price retracement and look how the price moves further
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk