Simple Trade: Swing entry opportunity in Bank of India on a Daily Time frame.
Stock has taken a support on 200ema on a daily time frame which coincides with the support line formation updated on chart.
Look for Risk Reward of 1:2 as mentioned
If you like my Ideas please share it with your friends and community.
Note: This idea is for Education purpose only.
1. Pinbar formed at S/R level
2. Fibonacci Retracement 61.8% confirms that S/R level.
3. Trendline is in perfect position for the pinbar which acts as trendline.
4. Stop Loss and Take Profit levels are perfectly mentioned in the chart window.
5. Once Take profit level reached, try to sell half of your stocks position there and move your stop loss to breakeven and...
The stock has formed double bottom in Day time frame.
It has given a neckline breakout too.
Can go long at current market price (75.50).
The height of the bottom can be taken as Target(84.00).
~All the information given in the chart is for the educational purpose only.
~Do your own research before investing.
~This is not my recommendation.
~My recommendation--LEARN MORE EARN MORE.
NSE:BANKINDIA
✅ #BANKINDIA trading above Resistance of 85
✅ Next Resistance is at 101
✅ Current Strength in PSU banks is positive for BANKINDIA
Related chart:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This...
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets...
closed above 200 dma 48.99 with increased volume. PE ratio 5.85. book value 117.47. reserve is more than 10 times of equity share capital. good effect of bad bank.
