Bank of Baroda has been in a descending channel for the past month. The stock has formed this reversal channel at an important daily support zone. The stock created a double bottom formation last week giving more indication of a reversal.
Stoploss - 88.65
Target 1 - 99.05
Target 2 - 103.35
Target 3 - 107.30
This content is for information and...
Bank of baroda trading near demand zone 90-100 . with major weekly support at 85.
if closes above 100 next week then one can go long.
and in worse case it closes below 85 we are heading to a much lower level. that would be a major break down for the stock.
Now at wait & watch zone
Long above 100 with SL 95.
Short below 85 with SL 90.
Bank of Broda is in a Bearish Pennant formation of the 60min chart. Shorts may be initiated after the break of the 103.95 level to the downside. If the price advances to the upside traders should observe the 107.40- 106.30 zone for any rejections or candlestick formations to short the stock.
Zone - 107.40 - 106.30
Target 1 - 101.45
Target 2 - 99.40
Target 3 -...
NSE: BANK Of Baroda Possible downside below 115
Stock is trying pull back from low of 90 on Oct 11.
Crossed 61.8 Fibo level from Sept 3, high @ 156
1 Year trend is negative, Pullback is loosing momentum.
Possible short below 115 for a target of 105 below
Stop loss on closing basis 123.
Close above 123 level will continue momentum on upside. 123 level is strong...
It is been observed on the daily chart that the price action is trending up while breaking resistance zone and forming higher lows and higher highs indicating a further move up.
Target 2: 182