BANKBARODA trade ideas
Bank of Baroda - Sit on their Strongest support and formed a H&SHello Everyone,
Hope you doing all good. I have found a H&S pattern in Bank of Baroda in 1 month time frame. There is no volume since a couple of weeks if it breaks the current neck and support line then the Stock should be dump like a falling knife.
Bank of Baroda Fundamental Call For BuyingBOB ois amongst the top three bank with total asset based of over Rs 7 trillion. Total business on gross basis is over Rs 10 trillion wich also include> Rs 1.05 trillion international advances. The bank has CASA of 27% of total deposits whereas the deposit itself has jumped>5 fold last 10 years.
Mulltiple confluence suttesting a short Although PS Banks moved vertically in last 2 days but the price has reached at Upper medium line of good frequency Pitchfork and getting resistance there. Good trend line was broken and price are touching it from below so another reason to short it here. One can short here with SL of 173.50 on closing basis for a target of 145.