Medium and short degree counts suggest some downside for bank of india.
Longer degree counts might disagree.
Never the less, it can be looked at for shorting opportunities in short term till the latest daily chart swing high is protected.
made 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
Bank 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.
It 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 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...
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
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...
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
