NSE:BANKINDIA
THE RELIANCE DEAL WITH FUTURE RETAIL IS GONNA BE A BREATHER FOR BANK OF INDIA
ONCE IT CROSSES 54 AND SUSTAINS, ITS GONNA HIT 59. IF CLOSES AND SUSTAINS ABOVE 59, 66 IS WHAT IT CAN TRY TO BREACH
CAUTION - IT MIGHT GAP UP
...
WAITING FOR PRICES TO TEST THE ENTRY PRICE. SELL SETUP :)
KEEP IT SIMPLE, KEEP IT UNIQUE :)
HAPPY TRADING, HAPPY PROFIT MAKING :)
NOTE: MY VIEW ONLY....
Has been consolidating in a range for ayear between 80 to 110
So one can play the stock in this range
It is likely that current movement is on budget expectations so be cautious.
for positional traders Once if you see 110 getting taken out, a big rally can ensue with
targets for 150 and above
short term traders can keep stops at 88
BANK OF INDIA
Sector: Financials
Industry: Banks
Employees: 45613
Bank of India is an India-based bank. The Bank's segments include Treasury Operations, Wholesale Banking and Retail Banking. The Treasury operations segment includes the entire investment portfolio, which is dealing in government and other securities, money market operations and foreign exchange...
The analysis is only for educational purpose.
Butterfly Rules
AB can retrace up to 78.6% of the XA leg - Condition satisfied
BC can retrace between 38.2% – 88.6% of AB Condition satisfied
CD can be an extension of 1.618% – 2.618% of AB Condition satisfied
CD can also be an extension of up to 1.272% – 1.618% of XA leg Condition...
