Breakout from 128-130 level will be bullish
Breakout above 128-130 level will be positive for stock. SL will be below marked area
Keeping eye on this one.
BANKINDIA trade ideas
BANKINDIA DAILYBANKINDIA look good to accumulate with low risk
Can accumulate @ 112.5-112 with sl 111 for target 115-118
BOI - BIG MOVE COMING UPIt is been observed on hourly and Daily chart that the price action forms a Descending Triangle by making lower highs and horizontal support. It is indicative of the big breakout and a big move from here on.
BOI forming Ascending Triangle It is been observed on daily chart that the price action forming an Ascending Triangle, indicating a big move ahead.
Regards
Bank of India fired breakout of bearish channelBank of India fired breakout to change the bearish trend the stock trading since last two months also it retraced to crucial fibo 50% level before breakout. stock is looking technically strong but it is likely to retest the former level 113.00 support before establishing the up trend. It closed on Friday forking a shooting star candle stick pattern, trader may short this stock slightly higher price around 125.00 for a target of 113.00.
Bank of India: Big Channel Breakout It is been observed on hourly chart that the price action breaks above the downtrending channel with a big bull candlestick indicating strong bullishness ahead. It may correct after this big move but now it shall reach out to previous resistance levels at 125 levels.
Target: 125
Stoploss: 110
Bank India- Out in Time at 115.60- Slips to 112.15 lowsFinancial Markets never move in a straight line which was evident as well & we were fortunate enough to get out of Bank India right at the top@115. 60- I am talking from a traders point of view & those who are long term players can hold it till BnkIndia Kisses the top zone 122-124 with key level-109.45 & critical level-108 intact. Intact means Bank India should not go below 109.45 in the first place.
I am still keeping my counts as it is -which could possibly be a-b-c for a W- wave & then this fall from 115.60 to 112.15 as X-wave-that's an alternate count- not discussing at the moment-as it is premature.
Likely we should see a move above 115.50 but yes with strict stops below 109.45 -which is Laxman Rekha for me- any price dip below 109.45 shall change the whole game.
Kissed 115.60 & U-turn
Time for Bank India to Dance
Keep a watch above 113
Bank India- Kissed 115.60 & U-turnIt clicked on 161.8% - Bank India Kissed 115.50-115.70 zone as per previous update- Next we will buy above 115.50 only.
Remember these are fluctuation moves or trades. I have given long term view in which Bank India should touch 122-124 zone got activated between 110-112.50 zone with critical level@108 & key level@109.45.
Bank India- Time for Bank India to DanceWhen other colleagues are dancing & enjoying- this poor fellow was on fast yesterday on account of an auspicious day.
Likely moving in a range bound market so it could be his turn to dance. It travels 161.8% in 115.60 -which could be a good start for longer term target zone of 122-124 from previous updates.
Triangle in Bigger Picture with key low-109.45 & critical low-108
Bank India- Reversal with key level-109.45 & critical level-108Bank India with key level -109.45 & critical level-108- shall be heading for d-wave where it measures 61.8% of (B)-wave of the triangle. Unless the critical level gets broken- I am assuming Bank India to head upside for target zone 122-124 in the coming days where risk reward is excellent as taking a risk of 2.5% & reward shall be 10%.
Incase critical level get broken, then I will need to come back again.
Bank India- Keep a watch above 113Last time Bank India pushed up to 113.55 but likely some pressure is still left. One has to keep a watch on the levels above 113- Bank India Stating Above that shall be comfortable to move into the zone 122-124 as expected earlier
Bank India- Push till 122-124 zone in B-Wave TriangleFrom 78.40 lows -seems that it is shaping into A-B-C correction. A-wave made a high@117.70-since then it moving into a sideways pattern-likely tracing out B-wave, Triangle - In B-wave triangle-looks to move in d-leg internally which can push prices to 122-124 zone where it will face resistance.
Trendline should support this push which is connected between 101.30-108-109.45 - Laxman Rekha - Bank India should not go below 109.45 -key level, then the price can push up till 122-124 zone & form d-leg of the triangle.
Regards,
Abhishek H. Singh, CMT
Bank of India : After Bullish Bat, Bullish Flag ! Bullish flag breakout thats what we have in BankIndia (Bank of India). When we look at the chart it looks like early breakout and easily it cud have moved within flag zone for few more days. Just above the flag prev resistance zone 113's-120's but breakout patterns carry huge momentum with them but Nifty doesn't make newer highs which makes us think whats gonna happen in this zone. So if this bullish momentum is retained, we will have one swift move across the zone 120 or be prepared for ranging in BankIndia which is rare scenario after flag breakout.Actually I think we discussed the bat days before its completion and its move up. (check related ideas)
Instead of exiting @ target 2 of bullish bat, by trailing stop we cud have gained more points. But its not that easy work bcos, take a look at chart again the move is don't have any valid retracement, its just up..up..up n away from 80's. These are rare flying moves, now with flag breakout lets aim for newer highs ( Shortterm 1-2 months)
Happy Independence Day !
Bank of India - Firing Up (Buy)Today's rally of 10% with huge volume certainly gives a bullish signal to it. I believe this will break through the price action of 116 levels and then it may surely reach to previous resistance levels of 125-127. Good Buy With SL 104.50
