BUY ABOVE :1567
TARGET : 2329
Reason For Buying This Script :
It is forming trend line & channel line .
In weekly time frame it has formed dragon fly doji formed . It shows buyers are in control .
IF you need high conformation means the price has to trade above 1567 & it should close above 1567 in weekly time frame or else you can buy current Market...
Tvs spot cmp 603
Bearish dragon pattern formation..
Trend line from head to hump , breakdown confirms the formation of dragon pattern..
613-620 good selling range..
with stoploss above 635 on closing basis
Good short candidate..
After reversing from a Bullish Harmonic Shark it has now given a breakout in weekly time frame as per Ichimoku which suggest further upside till 550 as long as it gives a weekly close above 485.
Coincidentally, the min expected retracement of 38% of the Bullish Shark is also in the same range along with a Bullish Harmonic Dragon which is running in daily time...
The dragon pattern, a variation of double bottom pattern, is formed in the counter.
The price has crossed the critical resistance level of 1.12047 as well.
Hence we expect the pair to move to the next resistance levels of 1.12561 and 1.12939.
Dragon harmonic pattern has been formed in Daily chart of Bank of Baroda. Dragon pattern is rarely seen in stock charts. As explained in chart , price movement is in perfect alignment with the Dragon Pattern. expecting it to fly like dragon and hit the Targets.
Declaimer : This analysis is for education purpose only.