BANK OF BARODA has given a breakout from a parallel channel supported by good volumes. All other indicators also look like supporting a good move. Recently, the bank had posted very good results.
If breakout is successful, then the stock can see much higher levels as indicated in the chart.
DISCLAIMER: This idea is published for educational purposes only. This...
BANKBARODA STOCK CORRECTION TYPE FLAT CORRECTION
FIRST say Wave A,B,C
wave A --> inter wave a,b,c
wave C --> inter wave a,b,c
wave C --> inter wave 1,2,3,4,5
PSU Bank is in Strong Momentum, BOB Can be good play
TGT - 125 & 140-+
SL -105
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may...
Position Long above 110
• Stock has made new yearly high
• Stock is in formation of Inverse Head and Shoulder pattern on weekly chart and has breached above 110
If stock manages to close above 110 on weekly basis, one can initiate long strictly above 110 levels for the target of 160+ levels with stop of 87 on closing basis.
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Disclaimer :
-Please...
One can go long on NSE:BANKBARODA , as it has completed its H&S pattern on the weekly chart.
Confluence factors:
1> Top of head touched major support area.
2> Significant volume seen once the H&S pattern began to form.
3> Volume increases when going up and decreases when going down.
Another PSU stock which has had a super Jan. Most of the resistances are now out of the way.
Long above 108 would lead to momentum continuation and would also be a breakout.
SL below 100.
1. Inverse Head & shoulder pattern formed. (Possible BO from here)
2. Price also formed symmetric triangle (BO & retest completed) within the H&S pattern.
3. Entry suggested after proper breakout.
Targets as per previous swing highs:
Target 1 : 133
Target 2 : 157
Target as per Inverse H&S Pattern: 177
SL : Low of Right shoulder
#BANKBARODA
CMP : 103.30
Harmonic Pattern
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
Bank of Baroda is trading at important Levels!!!
If it closes above 103.30 then more buying can be seen.
OR
if it doesn't close above 103.3 selling can again be seen.
Alert:- RSI is nearing 75.
Stock Well Academy
Crucial Levels of Resistance at Rs.100 and Rs.102
Uptrending seen in the stock
Important Supports at Rs.92 and Rs.90
Short Term Target of Rs. 100 and 102 with Stop Loss of Rs.93; Buy above Rs.93 where momentum seen in the stock several times
Disclaimer: This study is my personal training and only for Educational Purpose and Critical Review...
