BANK OF BARODAShort
BANKBARODA - SHORT TERM ANALYSIS
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 MORE PROBABLE SCENARIO. IF THIS OCCURS, WAVE 5 OF THE C WAVE WILL REACH AT LEAST 113.55. WATCH FOR THE COMP[LETION OF 5 WAVES ON THE UPSIDE AND THEN SHORT. THE TARGET AGAIN WOULD BE 98 WITH A STOPLOSS OF 121.55. TARGET SHOULD BE REACHED BEFORE NEXT MID-MONTH
ALL DEPENDS ON THE BREACH OF THE 0-B LINE, HOWEVER, BANKBARODA IS DESTINED TO FALL IN THE MEDIUM TERM
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 MORE PROBABLE SCENARIO. IF THIS OCCURS, WAVE 5 OF THE C WAVE WILL REACH AT LEAST 113.55. WATCH FOR THE COMP[LETION OF 5 WAVES ON THE UPSIDE AND THEN SHORT. THE TARGET AGAIN WOULD BE 98 WITH A STOPLOSS OF 121.55. TARGET SHOULD BE REACHED BEFORE NEXT MID-MONTH
ALL DEPENDS ON THE BREACH OF THE 0-B LINE, HOWEVER, BANKBARODA IS DESTINED TO FALL IN THE MEDIUM TERM
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.