The current price of the stock being the same as it was in January 2003 and if it breaks the channel pattern, suggests to me that there could be an excellent opportunity for going long (swing). Comment and tell me what you guys think. Lets help each other and share ideas!
1.Clear resistance @ Rs 32 (More Dogies formed with color momentum change)
2.Tiangle Pattern confirms there could be a break count
3.Previous Trend is Down trend
4.Nice Short trade Oppturnity.
Stop Loss @ 34
Target 1 @30 if
If its Crossed Support pivot then easy Target of 28.
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