After making triangular pattern breakout has happened on the upside. Also retested the BO point which confirms the Breakout.
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Bank Of India (BANKINDIA) weekly chart study - Triangle bottom
Trade in the direction of breakout. Expecting a breakout on bullish side based on RSI divergence (minor evidence). Still its advisable to wait for the breakout before buying.
BANKINDIA (Bank of India) BUY ABOVE 93
Stock gain momentum today, and if it crosses it's previous resistance of 93, then stock may go up to 95 and next target will be 97 & 99.
Bank of India has finished a probable flat as part of its correction to the upside. I think its going to be in a 240 pullback before the next move. This pull back could give a low risk / high reward entry. There's no sell setup and even if one manages to sell, I don't think its going too far down. Also, we are at a very low level on the weekly so the probability...
POSITIONAL TRADE IN BANK OF INDIA
MARCH FUT
DOUBLE FORMATION VISIBLE ON DAILY CHART
CLOSE ABOVE 91+RISE IN OPEN INTEREST WOULD LEAD TO 100
BUY@91
STOP@88
TARGET@98-100
LOT:6000
QTY:1
LEVELS MENTIONED IN THE CHART.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
Bank of India is an India-based bank. The Bank's segments include Treasury Operations, Wholesale Banking and Retail Banking. The Treasury operations segment includes the entire investment portfolio, which is dealing in government and other securities, money market operations and foreign exchange operations. Its Wholesale Banking segment includes all advances, which are not included under Retail Banking. Its Retail Banking segment includes exposures, which fulfill criteria, including exposure (the maximum aggregate exposure of approximately five crore rupees), and the total annual turnover is over 50 crore rupees, which means the average turnover of the last three years in case of existing entities and projected turnover in case of new entities. It operates through a branch network of approximately 5,020 domestic branches and over 60 overseas branches. Its subsidiaries include BOI AXA Investment Managers Pvt. Ltd., BOI AXA Trustee Services Pvt. Ltd and Bank of India (Tanzania) Ltd.
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BANKINDIA
