Enter at 117 with a stop loss of 111. Exit half the position at 124 and trail the other half. Second target would be at 129, where you can exit or move your trailing stops.
Bank of baroda, seems to be making a bearish flag pattern, Shorting opportunity in the downtrend continues and breaks the trendline with an impulse, support areas mentioned.
The aim is to Trade the Channel. Price is now at demand area. First target around 120, and then investors can hold it for a test of the upper line of the channel.
BANKBARODA - AS ON 23 NOVEMBER
THE 0-B TRENDLINE IS THE MOST IMPORTANT HERE.
THERE ARE 2 POSSIBILITIES
A. WAVE C IS AN ENDING DIAGONAL WITH WAVES 1 TO 5 OF C WAVE COMPLETED. THIS GIVES US A TARGET OF 98 WHICH SHOULD BE REACHED BU THIS MONTHEND. THIS SEEMS TO BE A LESS PROBABLE SCENARIO
B. WAVE 1 TO 4 OF C WAVE IS COMPLETE BUT WAVE 5 IS PENDING. THIS LOOKS A...
Ascending Triangle formation in Bank of baroda makes it bullish. The volume is good and a break above 118.75 could see an accelerated run towards 146 levels.
You can open positions now or wait for it to hit the trendline and bounce for confirmation.
BSE:BANKBARODA Sell initiate for 02 Nov 2018 using 1 hr chart based on Fibonacci levels,
check below Sell level
Sell Below : 106.25
Stop Loss : 110.15
Target : 104.25
