Bank Of Baroda-investment opportunity -in channel pattern , Market is playing very incorrectly and unreasonably, when it will start going correctly it will Boom...
Depending on the overall Market Conditions BoB looks good for grabs between 86-88. Should BoB bounce from support, you can probably capture anywhere between 10-12% (in a decent /responsive market).
Please read the overall market condition before investing. This is not an investment advice. It is just my point of view from a weekly perspective...
i have made a analysis by using few technical indicators and trend lines. My observations is as bellow.
1) Based on the trend line analysis- stock is following the up trend since 8 months
2) Fib- retracement: shows good buying opportunity at 85 to 90 points, so that at this level the stock comes and touched the trend line, becomes a good entry levels.
3) RSI...
bank of baroda was in long term down trend ..
after making base it trying to go up.
for long term based on monthly chart .
current pattern formation and indicators is positive..
92-105 approximate area is important to cross and sustain
on looks like based on chart trendline.
so one who observing upmove ,
it is just simple review on current trend ..
no...
Bank of Baroda trading in a positive higher high and higher low channel, If it break and sustain above 103.85 level, T1 - 110, T2- 116, T3- 125
SL would be 94
Cup and Handle with Long term Resistance breakout in Bank of Baroda.
PSU banks have already given a breakout and are in an uptrend.
Looks good for targets of 140-160
![BANKBARODA: Bank of Baroda [Weekly]](https://s3.tradingview.com/p/pCLaODfk_mid.png "Bank of Baroda [Weekly]")
