Long Bank of Baroda with a target of 50 and 65 for 25 to 30 day range
SL around 35
1. Expected Breakout in Long term trend line in Daily chart
2. Bullish Momentum divergence in OBV as Price is falling but OBV rises
3. Breakout in OBV trend line
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...
RSI Divergence and Bank of Baroda has not participated in the current rally.
Go Long with Target up to 65 wit SL of 48
Disclaimer : I am not a SEBI registered investment advisor. All views expressed are for educational purpose only. Kindly consult you financial advisor before trading or investment. I may or may not have position in the stocks described for...
Descending Triangle formation on Bank of Baroda Chart.
Descending Triangle is a consolidation pattern.
According to the pattern, a possible downside breakout is expected.
Watch the last 3 Candlesticks:-
16 April 2020 - Dragonfly Doji
17 April 2020 - Spinning Top
20 April 2020 - Long Legged Doji
All these candlesticks are neutral candlesticks.
Buy Trade Setup:
- If goes above 104.7
Reason(s) for Trade:
Near the Resistance with capability to break-out
Candle size near the resistance is good
RSI is above 50+
Previous Break-out was failed ( the break-out candle's previous candle was not of good size and also RSI was in overbought zone)
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BANK OF BARODA: The stock is taking support at the KS line, forming a bullish sash pattern. The RSI is into 60-40 zone after getting above 60 levels, the move seems to be sideways with a positive bias. The MACD is into bullish zone above 0. Everything above indicates bullish possibility in the coming sessions. However a move below 93 may negate the view.
BOB is showing some support around 85.65 zone
if broken it is likely to continue its fall which started in Jan 15.
What is probable is to find support in 82.65-74.95 zone and
if this happened we can see 150 levels in coming months
Long on pullback
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 -...