Bank of India #BankBank of India is in downtrend from 2011. Recently it broke the trendline which is also the breakout of the falling wedge pattern . There is a small hurdle which we can see clearly on weekly time frame once it break & sustain that we might see a good move in this stock. Please consult your financial advisor before making any investment its only for educational purpose not any stock recommendation
BANKINDIA trade ideas
Buy BANK OF INDIA @ 110 with Target 180 and SL @ 85NSE: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.
BankIndia RocksIn the BankIndia chart a lots of things happened
1. Recently formed double bottom pattern
2. Cross 200EMA at daily time frame.
3. Cross 50EMA at daily time frame.
Target
1.First target will be : 84.5
2. second will be : 97
3. If we talk about 2-3 month time period this share has potential to cross about 120-125