📈 Bank of Baroda 📉
This Stock broke out from a Resistance zone of 105-108 after testing twice. I am biased on long side because todays candle is strong green.
On Buy Side I am looking for Targets of 118.
StopLoss should be kept at 105.
It offers 1:1 Risk Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing...
Bank Of baroda
Head and Shoulder pattern formation on the chart
If breakout sustain,
Buy above 112.25 levels for 2-5% target
Keep on watchlist for Intraday also
Avoid Setup if gapup or gapdown.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Please Like & Follow
NSE:BANKBARODA
Bank of Baroda seems in a good up trend
It recently broke the 2 Year long Supply zone and
it is now ready to Climb high.
Interested Traders can enter on retracement or
above 119 i.e above previous candle high
I will inform here once the trade goes active.
All other details are mentioned in the Chart
NOTE - THIS TRADE IDEA IS ONLY FOR...
Date - 07.02.2022
Bank of Baroda - Head & Shoulder breakout
Time frame - Weekly
We have seen a breakout of inverted Head & Shoulder pattern on Bank of Baroda. we can see a bullish movement in upcoming days.
CMP - 112.95
Target -118.50, 130,145
Sl - 99
1. Inverse Head & shoulder pattern formed. (Possible BO from here)
2. Price also formed symmetric triangle (BO & retest completed) within the H&S pattern.
3. Entry suggested after proper breakout.
Targets as per previous swing highs:
Target 1 : 133
Target 2 : 157
Target as per Inverse H&S Pattern: 177
SL : Low of Right shoulder
Bank of Baroda is trading at important Levels!!!
If it closes above 103.30 then more buying can be seen.
OR
if it doesn't close above 103.3 selling can again be seen.
Alert:- RSI is nearing 75.
i have made a analysis by using few technical indicators and trend lines. My observations is as bellow.
1) Based on the trend line analysis- stock is following the up trend since 8 months
2) Fib- retracement: shows good buying opportunity at 85 to 90 points, so that at this level the stock comes and touched the trend line, becomes a good entry levels.
3) RSI...
Bank of Baroda trading in a positive higher high and higher low channel, If it break and sustain above 103.85 level, T1 - 110, T2- 116, T3- 125
SL would be 94
*Only for learning purpose*
There is a visible Cup and Handle Formation on Weekly chart of Bank of Baroda. You can check the charts for some details. Kindly suggest and advice if I made a mistake in this observation.
And as far as I believe, this is supported with increasing volumes, visible on charts.
