According to chart anylasis its trade in parallel channel and make higher high and lower low. So according to chart buy @50 or above for target Rs. 60-70++. Special situation stock. Keep SL 42 below.
BANK OF INDIA
On weekly time frame, falling Wedge chart formation
& Now trading at wedge upper channel
Risky Buy Call
To buy above 54-55 levels
for short term targets of 5-10%
Keep 3-4% tight SL on closing basis & also Trail SL to maximize Profit.
----
Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
Please...
BANKINDIA has been a down trending stock since many years. There is a Change in momentum in Monthly timeframe.
Going to buy the falling knife.
BANKINDIA
Buy-Between 45-50
Sl- 35
T-70 90 100 130
NSE:BANKINDIA
Observations- on the Chart.
I see an upside in BANKOFINDIA .
Hope to see it does what I made in the chart.
There can be more push to upside than shown in the chart.
Overall seems Long term Bullish as Banking sector PSUs privatize in India.
Predictions are merely for education purposes. No Trading Advice whatsoever in this profile.
Bank of India has major exposure to Future Group, the reliance acquisition news makes it a major beneficiary.
Trade carefully, hold for 58-60 Rs. targets, following 48.5 as stop loss.
BANK OF INDIA looks bullish as per this analysis, started breakout.
T1 - 47
T2 - 54
SL - 39
Note : This analysis purely for educational purpose, and pls share your views.. open for correnction.
