Bank of Baroda - Study and analysis Bank of Baroda may consolidate from this level and may go down to its demand zone given in the chart.. on the weekly chart it is getting hit from the resistance zone and we might witness 10rs fall but restesting is possible near 219-220INR.
We can find buying opportunities only if it is near the demand zone in the meantime I don't see any more green candles on it..
We can keep n eye on it..
All the ideas posted here are only for study purpose, investors are restricted to take any investment decision based on the posted idea which only meant to study purpose...
BANKBARODA trade ideas
Bank of Baroda 3 December 2023 (Hindi language)In Bank of Baroda, we have seen a brief history, its movement and few levels. we have marked 204 level for trade activation 196 as stop loss and 208 to 205 as target.
this trade setup is for informational and educational purpose only Please do your own research before taking any trading decision Thank you
TRADE SETUP_ A 20% up move in BOBThe Stock is looking like coming out from wave 4 correction and is in the right demand zone, ready for its next move up towards 225 zone(25% from CMP).
It should also be noted that the Bank had announced its results on 4th of November and posted solid Stand Alone Net Profit of Rs.42.53B vs Rs.33.13B(YOY).
190 is the crucial support for the stock and 185 can be used as a SL.
CMP - 191.25
SUPPORT - 190
SL - 185-186
TARGET - 220-230
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Bank of Baroda Simple Analysis BullishNSE:BANKBARODA is making HH and HLs in the Daily chart and is reacting from a Fresh Trap Zone.
The expectation is price will make another HH from here as that is the habit of the price. So, we can think of taking a long trade with a small risk to get the 3.65: 1 Reward to Risk. That is a 10.70% Return on Investment in quick succession.
๐ Exciting Bullish Pattern Alert! ๐๐ Pattern: Rising Channel
๐ Symbol/Asset: Bank Of Baroda
๐ Description: The PSU Bank sector is on fire, Bank Of Baroda is on Linear scale support, in case of bounce back it can touch 220 to 258 levels.
๐ Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
BOB GOING FOR THE HOME RUN
We see Wave 1 : Its a 5 Wave sequence structure as such that the Wave 1 is a Leading Diagonal and hence the Wave will have a full 5 Wave sequence structure in the upward direction.
Wave 2 has retraced Wave 1 by less than 100% which suffices the rules of the Elliott Wave Theory.
We have an Annual Demand, wait for the Price to come into the Annual Demand
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