It is been observed on hourly and Daily chart that the price action forms a Descending Triangle by making lower highs and horizontal support. It is indicative of the big breakout and a big move from here on.
Bank of India fired breakout to change the bearish trend the stock trading since last two months also it retraced to crucial fibo 50% level before breakout. stock is looking technically strong but it is likely to retest the former level 113.00 support before establishing the up trend. It closed on Friday forking a shooting star candle stick pattern, trader may...
It is been observed on hourly chart that the price action breaks above the downtrending channel with a big bull candlestick indicating strong bullishness ahead. It may correct after this big move but now it shall reach out to previous resistance levels at 125 levels.
Target: 125
Stoploss: 110
Financial Markets never move in a straight line which was evident as well & we were fortunate enough to get out of Bank India right at the top@115. 60- I am talking from a traders point of view & those who are long term players can hold it till BnkIndia Kisses the top zone 122-124 with key level-109.45 & critical level-108 intact. Intact means Bank India should...
It clicked on 161.8% - Bank India Kissed 115.50-115.70 zone as per previous update- Next we will buy above 115.50 only.
Remember these are fluctuation moves or trades. I have given long term view in which Bank India should touch 122-124 zone got activated between 110-112.50 zone with critical level@108 & key level@109.45.
When other colleagues are dancing & enjoying- this poor fellow was on fast yesterday on account of an auspicious day.
Likely moving in a range bound market so it could be his turn to dance. It travels 161.8% in 115.60 -which could be a good start for longer term target zone of 122-124 from previous updates.
Triangle in Bigger Picture with key low-109.45 &...
Bank India with key level -109.45 & critical level-108- shall be heading for d-wave where it measures 61.8% of (B)-wave of the triangle. Unless the critical level gets broken- I am assuming Bank India to head upside for target zone 122-124 in the coming days where risk reward is excellent as taking a risk of 2.5% & reward shall be 10%.
Incase critical level get...
Last time Bank India pushed up to 113.55 but likely some pressure is still left. One has to keep a watch on the levels above 113- Bank India Stating Above that shall be comfortable to move into the zone 122-124 as expected earlier
From 78.40 lows -seems that it is shaping into A-B-C correction. A-wave made a high@117.70-since then it moving into a sideways pattern-likely tracing out B-wave, Triangle - In B-wave triangle-looks to move in d-leg internally which can push prices to 122-124 zone where it will face resistance.
Trendline should support this push which is connected between...
Bullish flag breakout thats what we have in BankIndia (Bank of India). When we look at the chart it looks like early breakout and easily it cud have moved within flag zone for few more days. Just above the flag prev resistance zone 113's-120's but breakout patterns carry huge momentum with them but Nifty doesn't make newer highs which makes us think whats gonna...
Today's rally of 10% with huge volume certainly gives a bullish signal to it. I believe this will break through the price action of 116 levels and then it may surely reach to previous resistance levels of 125-127. Good Buy With SL 104.50
