Simple Trade: Swing entry opportunity in Bank of India on a Daily Time frame.
Stock has taken a support on 200ema on a daily time frame which coincides with the support line formation updated on chart.
Look for Risk Reward of 1:2 as mentioned
If you like my Ideas please share it with your friends and community.
Note: This idea is for Education purpose only.
1. Pinbar formed at S/R level
2. Fibonacci Retracement 61.8% confirms that S/R level.
3. Trendline is in perfect position for the pinbar which acts as trendline.
4. Stop Loss and Take Profit levels are perfectly mentioned in the chart window.
5. Once Take profit level reached, try to sell half of your stocks position there and move your stop loss to breakeven and...
The stock has formed double bottom in Day time frame.
It has given a neckline breakout too.
Can go long at current market price (75.50).
The height of the bottom can be taken as Target(84.00).
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
LOOK FOR
1.IMPORTANT RESITANCE LEVEL TO BE BROKEN
2. GOOD VOLUMES
3.NEWS RELATED THING CAN MAKE OR BREAK THE MARKET
WHO AM I TO TELL ALL THIS , JUST A NORMAL TRADER LIKE YOU GIVING MY OWN ANALYSIS !
SO I MIGHT BE WRONG OR MAY BE CORRECT BUT THAT ISNT THE THING ONLY ,WHAT MATTERS IS THE PROCESS BEING FOLLOWED !
EDUCATIONAL PURPOSE ONLY
NO BUYING OR...
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.
