Buy BANK OF INDIA @ 110 with Target 180 and SL @ 85

BANKINDIA

There is a good investment opportunity at BANKINDI where the stock is reversing its trend by forming a W pattern or double bottom in weekly chart. There is strong resistance at 100 and when there is a break out, the stock can be bought at 110. There is incremental sign in RSI and PSAR indicators.

With a timeline of 6 months to 1 year the stock has the potential to yield a return of 60% to 70% with a risk if 25%. Plan the investment considering the risk and not the returns.

Comment:

Consider entering the trade at Current Market Price of 103 to 105. The stock has given a bullish movement during UK exchange opening time. Wait for the price action till 10 o clock tomorrow. if the stock is in bullish movement by breaking the opening price then that will be a right time to enter the trade.

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