BANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.
Double Top @ 72.05
Another Crucial Level @ 76.50
If its breaks the two level above
mentioned we may see @ 87.60 Level
If Its fail to break the resistance @72.05
then we may see @ 67.80
For Long to Keep SL @ 58.80 TGT 95 & 106
For Swing to Keep SL @ 65 TGT 79 & 87
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This Chart is Bank India. If Break and Close above Trend line of 1 hr Time Fame with Volume. Buy above high of Breakout candle and SL is BO Candle's Low.
Target is Trailing SL of BO Candle Range for positional Trader
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.
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...