Bank of BarodaOne can make an entry in Bank of Baroda after breakout from cup and handle pattern.
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Bankofbarodatrading
BOB GOING FOR THE HOME RUN
We see Wave 1 : Its a 5 Wave sequence structure as such that the Wave 1 is a Leading Diagonal and hence the Wave will have a full 5 Wave sequence structure in the upward direction.
Wave 2 has retraced Wave 1 by less than 100% which suffices the rules of the Elliott Wave Theory.
We have an Annual Demand, wait for the Price to come into the Annual Demand
ENJOY THE RIDE ! ! !
Bank of BarodaThe stock is trading within symmetrical triangle.
Probability 1 - Breaking above the triangle and close above 110 will lead to a successful breakout,
Probability 2 - Facing resistance near upper trend line and correct till 102.
Worst case scenario - Breaking below 102 and head towards lower line of the triangle.