IOB trade ideas
A LOW RISK - MULTI-BAGGER - PENNY STCK AT BOTTOM?? Techno Funda Weekend Educational Idea: Indian Overseas Bank // FIBONACCI AND 8 EMA Band Combo
I have been tracking this stock for quite some time now and today finally it has given me a Techno-Funda Buy Signal on my Algos. This makes me post this Educational Idea.
I don't recommend to buy penny stocks just because of their ticket size, but looking at the charts indicators and the basic fundamental analysis of the stock, this particular scrip can propel to the higher levels pretty fast and makes a perfect candidate for swing trading and short term trading.
Moreover the Risk Reward is excellent (1:3), which I consider as the most important parameter in a trade and investment.
At this moment, this is purely an EDUCATION IDEA and NOT A BUYING RECOMMENDATION . In coming days I will post more precise Targets and Stop Loss for recommending firm trades.
Traders who love to invest / trade in penny stocks, can take paper trade or trade with small capital (1% of your trading capital) to learn the technique.
EDUCATIONAL / PAPER TRADE:
Call for Monday August 24th 2020 // This is a swing trade call and not an intra-day trade //
NSE: NSE:IOB
CMP / LTP: 11.7
IDEAL BUYING RANGE*: 11-12
1st TARGET: 13+ (10% Around) In 5-10 Trading Sessions // 2nd TARGET: 17+ (45%) In Short Term 3-4 Months
STOP LOSS: 9.9 (15 % Max)
HAPPY TRADING AND INVESTING!!
IOB buy setup - Risky counter trend tradeBuy IOB at CMP (10.5+)
T1: 12
T2: 12.80
T3: 14
T4: 15.40
SL: 9.80
IOB Bounce Uptrend Trade Entered on 02 August 18 on 15.15 with a stop loss at 14.70
TSL update on 09 August 18 from 14.70 to 15.05
TSL update on 20 August 18 from 15.05 to 15.20
Current Trailing Stop loss = 15.20
In case of hitting stop loss confirmed profit of 0.05 points.
Long on Reversal for Start of New trend Looking to Go long on reversal near the levels for New Bull trend
Up coming possible trade You dont want to miss The stock is facing some Fundamental issue but for sure the stock will bounce once they brake the down trend channel low
and it will move like a Rocket , i think the risk to reward would be very good ,
The issue with Fundamental will be ultimately resolved after the completion of the stock accumulation , so keeping an eye on this would be Good
Regards
INDIAN OVERSEAS BANK LONG IOB has probably bottomed out with a support at 20.50 - 22.50 ... and according to my observations technicals show a positive divergence on RSI & MACD (5/8/3) .. Stock might move up to its resistance at 32 and from there breakout possibility ...
T1 24.50
T2 26.80
T3 29.00
SL 21
Discl : its my 1st published idea so please help me with your feedback .. thanks
IOB - Ready to take off?For a year, the stock has been trying to break out the current resistance umpteen times. Yesterday huge volumes were witnessed with a positive indication on MACD & RSI.
Buy above 29
SL - 28.35
Tgt1 - 32 ( 10 % )
Please provide your valuable feedback which would help me improve my ideas each time.
Breakout - PSU BankThe only bank was under performing years together. Now breaking with all banks.
IOB can be bought now for target of 33, 34, 35. SL - 30.
