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trendline + support breakout
trends short signal
this is for my college project. Please ignore
As government has announced merger of 3 banks - Bank of Baroda, Dena Bank, Vijaya Bank, the price of these stocks will move up.
Here is the news
Wait for Flag breakout or Entry at CMP
Target1 : 172, Target2: 179 Target3: 190
If flag breakout done 1st support is at 157
Supports at 146, 142...
One can sell 160CE of BOB
Chart speaks everything!
Time to short!
buy for 140 sl 125
BUY BOB from CMP target as per your satisfaction
face resistance from trand line
sell on rise
stop loss 150
low risk trade
bank baroda expect bounce back
It is been observed on the daily chart that the price action breaks above the Ending Diagonal and also formed a RSI divergence indicating a change in price action from a down to upward trend. It shall further move up from current levels.
Prices have taken good support at 153level.Stock was facing resistance by the trendline drawn and 20ema since quite some time and now finally it has broken the resistance with good volumes!
One can go long for targets of 174 and the 180.SL will be 157 on closing basis.
We may face a small resistance at 170levels so trade with caution on those levels.
Bank Of Baroda is standing over the support line where maximum possibility is that it can bounce back to upside from this region....
If this happens, targets will be 174/182/193/210
and SL: 160
If this doesn't happens, downside targets will be 160/150/140
and SL : 170
wait for the clear trend and based on that take position....
Note: Do your own study ...
It is been observed on the daily chart that the price action is trending up while breaking resistance zone and forming higher lows and higher highs indicating a further move up.
Target 2: 182