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In the daily chart price action breaks the downward trend line. It will move up to 38.2% or 50% retracement levels. Targets are 159 and 162. Stoploss 150. Happy Trading! in.tradingview.com
Dear Friends
Hello!
Very powerful Dark cloud cover candlestick patter is appearing on bank of baroda.. good oppertunity to going short..short@152.70 SL@150 and target@146/145..Best of luck, Happy Trading! in.tradingview.com
Trump Trendline coming from 135 lows should hold BOB decline as that is crucial if there is any upside push left
Breaking 135 & channel shall be the clue for a downside move of BOB in 2017
In the charts below -click the charts & use load bar feature
Looking for a bigger trump tower
Did not hold above 177-178 for Target zone 190-195
Ascending Triangle on Bank of Baroda and it will break for upside movement. Indicators also showing bullish trend and last 2 hours of previous day volume is high. I am expecting the price may have gap up.
Trade:
Buy above - 152
Target 1 - 154
Target 2 - 156
Stop Loss - 150
R : R = 1 : 2
Reward Points = 4
Risk Points = 2
From Previous Update- If BOB would have sustained above 177-178- shall have travelled upside to channel top but bears never allowed BOB to go above 177-178 zone.
Almost a month have passed & BOB travelled from highs of 177-178 again into a very choppy & corrective sequence till today's close at 147.
Trading Strategy
BOB has last hope to bounce from 144-142 zone...
It is been observed on hourly chart that the price action breaks above the triangle indication a bullish move ahead.
Target: 165
Target (2): 166
Stoploss: 162
Bank of Baroda has been trading in gradual up trend, it closed at support on weekend, it seems, will trade upside from 161 level with a target of 180 in near term as first target and second target may be around 195.traders may enter long at CMP but wait to watch breakout downward,if breakout occurs exit with small stop loss.
according to SCOTT HENRY in XABCD pattern,when prices moves from C point to D bat action magnet move is seen.....when price crosses B point they get attracted towords D point like magnet....so sell Bank of Baroda below B point means @ 156 with targets of 141....
when prices reaches to the D point there ll be opportunity to buy @ 141 with targets of...
I have here used the ABC pattern with subwaves 3,3,5. In the C wave as you can see is still forming. here are a list of reasons why i believe that this stock is about to correct.
wave C is still still under completion with 2 subwaves remaining.
Double top formation.
Formation of indecision candle on both the tops.
Channel formation where even if the there...
It is been observed on hourly chart that the price action is facing a strong resistance or selling at 177 levels, indicating sellers aggressive selloff. Now it shall further come down to previous support levels that may also cover the previous gap up phase.
Target: 162
Stoploss: 179
Risk Reward: 1:1
Going above 178 swing high- likely Trump tower could extend in the zone 190-195 but be careful, it should not trade & sustain below 177.65 highs.
In case there is a gap up opening look for some pullback to enter into the trades taking care of 177.65 highs which should act as guiding level in further sessions.
Once done, we will expect this (X) -wave to...
As expected from the levels of 155-160 in the previous update- there was a sharp fall but even sharper recovery from 135 lows on account of Trump victory, suggesting that larger correction is still not done & I shall be looking for some move above- where it will complete its (X)-wave & start a move downside for (Z)- wave.
So, in all scenarios- if one gets an...
Its a tripple correction (W-X-Y-X-Z) started from 229 highs, which is unfolding in BOB- likely the last leg Z-wave downside which itself will be complex zigzag move going into June-July 2017- likely to test 80-90 zone.
Learning Bat Pattern
B is at least 50% retracement of XA leg, should not close above 50% retracment
C is at least 61.8% retracment of AB and no candle should close beyond 88.6% retracment
D is at 161.8% extension of AB
Target1: 38.2% retracemnt of AD leg
Target2: 61.8% retracment of AD leg
