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BANK OF BARODABANK OF BARODABANK OF BARODA

BANK OF BARODA

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BANKBARODA trade ideas

BOB Long Play game planAnalysis: # BOB closes the week strong. Went below 100 triggering the stops, took support at important 90-91 level and close above 100 for the week. # The stock is in uptrend and just made a 2.5 years high in 7th feb week. # Fundamentally PSU banks have completed the grueling NPA cycle and it seems better days in terms of higher NIMs and profitability are ahead. Gameplan: Entry : # Since the stock is making a lower weekly high for 5th straight week, a rise above this week's high of 105.45 will break this pattern. # buy above 105.5 with SL @ 90.5 {15/- risk) Exit: # Fall below 99 exit half qty to reduce losses rest at the SL of 90.5 { This will reduce the risk as the stock should not fall below 24th feb low if it has to move higher) # Book profit on 1/3rd shares when stock moves to 115 and move your SL to 98.5 for the remaining 2/3rd # Assuming 150 shares were bought, 50 shares exited at a profit of Rs 475 (9.5 per share), Sl for remaining 100 shares moves to 98.5 (7 per share). The trade becomes almost risk free with just Rs 225 at risk now (700-475), against the initial risk of 2250 (150 * 15) # Plan to exit another 1/3rd at 140 and then trail the stop to new weekly low for the rest of the quantity.
NSE:BANKBARODALong
by agrwal_amit