This trade is pretty simple. Nothing much to say beside keep an eye on volumes as volume expansion can add to the view and provide more confidence while entering.
Another important point is that the stock belongs to the second best performing sector(PSU BANKS) of 2023.
CMP 44.7
SL 42
TARGET 52(15%)
📊 Pattern: Rising Channel
📌 Symbol/Asset: Bank Of Baroda
🔍 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.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your...
CANARA BANK
Time Frame: 2hr
Observation:
* Cup and Handle formation
* Mean (EMA) Diversion on Hourly time frame
* Parallel channel breakout.
Resistance/Target: 351 375 399 414
Support: 310 287
The banknifty has exited its rectangle channel pattern at the end of a volatile week.
After today's amazing run, especially in PSUs, one might add long by keeping the SL of 42800 in the Banknifty.
A strong surge is expected in the next few days because all the good and large banks are supporting this movement.
Bankbees can be purchased to ride the rally🚀....
NSE:SBIN has already activated Harmonic PRZ 1.272 level in weekly timeframe of the target price 583.
BUY:
if price sustains above 520-522.
SELL:
if it not sustains above 520. you may get some profit booking up to 475.
Chances are more in favor of buyers to make new All time high so do accordingly.
Hello and a warm welcome to this analysis on Bank of Baroda
In daily time frame it has made a Bullish Harmonic Gartley and in hourly it has made a Bullish Regular RSI Divergence.
Both suggesting a pullback till 85-90 as long as it does not breach 78.25
Bank of Baroda is taking support at Rs 99.50 which is the previous high and 20 days MA. Expect to bounce back to Rs 105 - 106 levels. If BOB breaks over Rs 107 with volume on closing basis, it can reach a target of RS 120 - Rs 130.
