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BANKBARODA : Rising Wedge, upside 15.7%Rising Wedge Indicates the distribution phase in Bank of Baroda, In 1H double bottom formation has been formed and lead to fall in price of 82.50. Regardless of strong relative strength throughout technical POV fundamentals aren't good to hold this stock but here you can get 15% in short term. Upside Entry (breakout): @87.35 Normal Entry: @80.50-@82.50 For best entry wait for higher highs S.L: It's upon you. But below demand volatility it should be severe to your investment Points to be Note (Technical + Fundamental) 1. Price is in consolidation phase of 1 Week structure. 2. Price has been broke above the Supply levels and turns into Demand Volatility zone. 3. Relative strength is negative but balanced in uptrend act as a good to buy before volume rocks. 4. Company profit is increased fairly but very poor. Bcz mainstream income is negative and covered by other income to turn into positive net profits, March 2021 is -849 Cr 5. Company is not paying out dividend, but reserves has been increased by 50% in 2020 YOY and 9% in 2021 YOY. 6. Promoters have also pledged their holdings from 71.6 to 63.9%. 7. Cashflow from operation activity is -887 as compare to 18530 Cr in 2020. Let me know in comment section NSE:BANKBARODA what your views on this?
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by rajveerscolia