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.
BANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.
Bank of India has finished a probable flat as part of its correction to the upside. I think its going to be in a 240 pullback before the next move. This pull back could give a low risk / high reward entry. There's no sell setup and even if one manages to sell, I don't think its going too far down. Also, we are at a very low level on the weekly so the probability...
