Price level is at the base of the daily charts of bank of baroda in an uptrending channel.
target 1 - 162
target 2 - 165
target 3 - 169
stop loss - 155
We are still moving in a larger downtrend in BOB from 191.70 Highs. Looks like there could be a push upside as there is bullish crab coming in picture.
Last Call was closed as I was looking for a push upside to 175-177 zone & also suggested that it activates if sustains above 162-163 zone-which BOB did not go through & made day low@157.35
This Bullish Crab has...
The fall of 171 top is looking choppy & almost took 7-10 trading sessions which makes me even more excited about pop up which I have been expecting since 7-10 days. This pop up move shall confirm above falling blue trendline & holding 162-163 zone. If holds above 162-163 after crossing blue trendline likely that is sufficient to lead BOB to the desired zone.
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for educational purpose only - bank of baroda has made a gravestone doji on trend line support if it holds 159.55 then buy it with sl of 159.55 to tgt 165 and hold it with rising sl.
It has been observed in 30 mins chart price action has broken the downward trend line indicating bullishness. Bankbaroda is buy above 168 with the stoploss of 165. Targets are 172 and 174. Use trail stop to protect your profit.
Wow! - One Stock pays for all & patience gives you more than expected- is the lesson which I learnt from markets over 10 years of experience rather than trading in pieces- try to catch big fish which I did & helped community to be a part of the BOB.
You would love to read previous updates on BOB
Will BOB bang the ceiling 190-200 ---- 191.70 high updated...
Bank of Baroda has been trading in a rising channel and it has touched the channel resistance and start retracing towards short term support around 173 in near term with SL 193.
It was really exciting in the BOB counter as well when I first realised few months back that Y-wave shall come close to end in the zone 190-200- which unfolded as per my expectation- but took lot of time.
We all know financial markets never move in straight line so did this complex Y-wave as well.
What Next?
Zone of 190-200 has been rejected thrice on earlier...
Going above 177-178 & holding, shall give BOB some space on an upside & channel to restrict the upside move for the fall later.
Holding 177-178 on top -gave short term sell side move till recent low of 158
Last Price@153
S-L-- Short (Sell) First & Long (Buy) Later
Look to Sell with Strict Stops above 155- Double Top for targets 143-145 & look for support from trump trendline- if holds then reverse your position for upside targets.
Previous Report
BOB- 2016 Diary-(135-145) Key Support Zone- Trump Trendline Support
We shall look for retracement if BOB goes below 158 then 155-156.50 & under 155-if sustained, then shall move till 152.50-153 zones before resuming back its upside move
OR
Moving above 162 - resumes upside move & we shall come back again.
Previous Update- Double top@155 to sell
BOB 2016 Diary
162- what a turn down to 152-154 zone as expected from earlier updates & boom for last trading high@169.
What Next?
We are holding the same whoever entered at the bottom zone of 153-155 -there could be sideways / downside move & moves upside again, but we careful Feb2017 -mid week- & become cautious for the coming 2 weeks because its all choppy here in BOB - it...
