BANK OF BARODA S/RSupport and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BANKBARODA trade ideas
Bank of Baroda LongBank of Baroda
Price is coming from Daily Supply
BOB - Daily Demand @ 230 Level
Current Demand already Breakdown so Fresh Demand is only 230
This is Not Tested Zone -
230- Proximal Basis & 200 Distal so Expecting Price can come to this Zone
Other wise Buy On if Close above 250 Level
BANK OF BARODA - Multi year Breakout Investment pick 40% ROIThe stock has given a multiyear Breakout in Monthly and continuing its momentum strong.
It has decisively broken resistance ranges of multiple years 2010,2014,2015,2017,2022,2023.
One may consider to enter on current market price and accumulate on dips for a target of minimum 410.
Fundamental Picks - Stock PE < 20 (NIFTY BANK)๐ Script: BANKBARODA
โฑ๏ธ C.M.P ๐- 254
๐ฏ PE ๐ - 6.98
๐ Script: FEDERALBNK
โฑ๏ธ C.M.P ๐- 159
๐ฏ PE ๐ - 9.33
๐ Script: BANDHANBNK
โฑ๏ธ C.M.P ๐- 187
๐ฏ PE ๐ - 10.12
๐ Script: SBIN
โฑ๏ธ C.M.P ๐- 817
๐ฏ PE ๐ - 11.43
๐ Script: INDUSINDBK
โฑ๏ธ C.M.P ๐- 1410
๐ฏ PE ๐ - 12.66
๐ Script: HDFCBANK
โฑ๏ธ C.M.P ๐- 1437
๐ฏ PE ๐ - 16.07
๐ Script: IDFCFIRSTB
โฑ๏ธ C.M.P ๐- 76
๐ฏ PE ๐ - 17.13
๐ Script: PNB
โฑ๏ธ C.M.P ๐- 123
๐ฏ PE ๐ - 17.89
๐ Script: ICICIBANK
โฑ๏ธ C.M.P ๐- 1117
๐ฏ PE ๐ - 18.44
๐ Script: KOTAKBANK
โฑ๏ธ C.M.P ๐- 1627
๐ฏ PE ๐ - 18.49
Formula to calculate PE = MVP/EPS
MVP - Market Value Per Share (Stock Price)
EPS - Earning Per Share
Industry(NIFTYBANK) PE - 15.7
Always Compare Stock PE with Industry PE for Better Understanding.
LOWER THE PE MORE ATTRACTIVE THE COMPANY.
โ ๏ธ Important: Always maintain your Risk & Reward Ratio.
โ
Like and follow to never miss a new idea!โ
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat๐ Sleep๐ด TradingView๐ Repeat ๐
Happy learning with trading. Cheers!๐ฅ
Banking Stock - Keep An Eye - BANKBARODA๐ Script: BANKBARODA
๐ Sector: Banks
๐ Industry: Banks - Public Sector
Key highlights: ๐กโก
๐ Script has given breakout of Double Bottom pattern but didn't sustain keep an eye on it we may see good rally.
๐ One can go for Swing Trade above 284.
BUY ONLY ABOVE 284
โฑ๏ธ C.M.P ๐๐ฐ- 281
๐ข Target ๐ฏ๐ - 311
โ ๏ธ Important: Always maintain your Risk & Reward Ratio.
โ
Like and follow to never miss a new idea!โ
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat๐ Sleep๐ด TradingView๐ Repeat ๐
Happy learning with trading. Cheers!๐ฅ
Bank of Baroda: Riding the 5-Wave UP, Now Bracing for ABC DOWNAs evident from the chart, Bank of Baroda has successfully completed its five-wave uptrend, followed by a notable sell-off. This sell-off appears to signify the completion of a corrective wave, which often precedes a countertrend movement. Considering the subsequent upside movement as a B wave, it's customary for B waves to culminate around .6 and .7 retracement levels, forming an ABC pattern. Anticipating the arrival of the C wave, it presents an opportunity for a short-side trade initiation.
๐ Bank of Baroda: Riding the Waves of Support and Resistance!Hello Alpha Traders!
Let's delve into Bank of Baroda today. Here's a snapshot:
๐ 1-Hour Trend Analysis: NSE:BANKBARODA is currently riding an upward trend in the 1-hour session, showcasing resilience at support levels.
๐ Support and Resistance Dynamics: Observing a pattern where the stock breaks its resistance, retraces to find support, and then resumes its upward journey.
๐ Current Scenario: With the recent breakout above resistance, the stock is now retesting its support level before potential further upside.
๐ฐ Trading Opportunity: Consider taking a long position in the range of 260 to 240 rupees, with a stop loss placed below the support trend line for risk management.
๐ Stay Vigilant: Always stay alert to market movements and adjust your strategies accordingly.
๐ Chart Analysis: Dive deeper into the chart analysis for a comprehensive understanding of the stock's movements.
Looking forward to your insights and trades, Alpha Traders! ๐๐ผ
Best regards,
Alpha Trading Station