psu bank nifty ka outperformermade a strong bullish doji in a downtrend when bank nifty getting slaughtered..strong bullish price volume action towards the end of the day
enter at cmp for targets of 138.5/140
Bankofindia
Bank of India has been approaching channel supportBank of India has been trading in uptrend in a channel it closed at channel resistance forming a shooting star bearish pattern, it may approach to channel support in near term around 130.
Short Bank of India up support 126Bank of India has been trading in rising channel and closed with shooting star pattern,stock may retrace to support upto 126 in coming days.
BOI - BIG MOVE COMING UPIt is been observed on hourly and Daily chart that the price action forms a Descending Triangle by making lower highs and horizontal support. It is indicative of the big breakout and a big move from here on.
Bank of India fired breakout of bearish channelBank of India fired breakout to change the bearish trend the stock trading since last two months also it retraced to crucial fibo 50% level before breakout. stock is looking technically strong but it is likely to retest the former level 113.00 support before establishing the up trend. It closed on Friday forking a shooting star candle stick pattern, trader may short this stock slightly higher price around 125.00 for a target of 113.00.
Bank of India: Big Channel Breakout It is been observed on hourly chart that the price action breaks above the downtrending channel with a big bull candlestick indicating strong bullishness ahead. It may correct after this big move but now it shall reach out to previous resistance levels at 125 levels.
Target: 125
Stoploss: 110
Bank of India : After Bullish Bat, Bullish Flag ! Bullish flag breakout thats what we have in BankIndia (Bank of India). When we look at the chart it looks like early breakout and easily it cud have moved within flag zone for few more days. Just above the flag prev resistance zone 113's-120's but breakout patterns carry huge momentum with them but Nifty doesn't make newer highs which makes us think whats gonna happen in this zone. So if this bullish momentum is retained, we will have one swift move across the zone 120 or be prepared for ranging in BankIndia which is rare scenario after flag breakout.Actually I think we discussed the bat days before its completion and its move up. (check related ideas)
Instead of exiting @ target 2 of bullish bat, by trailing stop we cud have gained more points. But its not that easy work bcos, take a look at chart again the move is don't have any valid retracement, its just up..up..up n away from 80's. These are rare flying moves, now with flag breakout lets aim for newer highs ( Shortterm 1-2 months)
Happy Independence Day !
Bank of India - Firing Up (Buy)Today's rally of 10% with huge volume certainly gives a bullish signal to it. I believe this will break through the price action of 116 levels and then it may surely reach to previous resistance levels of 125-127. Good Buy With SL 104.50
