In lines with my previous post on bank of baroda,
we are bullish on it in lower time frames as well. The resistance and supports are shown in the chart. There are three overhead resistances in the immediate region and then we might see a rally in the short term. We are approaching the end of a symmetrical triangle which usually means a break on either side. However the higher time frame confirms bullish (as well as the overall market scenario for PSUs), so we will probably break out on the upside.
If we don't open above the first resistance wait for a retrace to support zone before opening positions.
Good Luck.
we are bullish on it in lower time frames as well. The resistance and supports are shown in the chart. There are three overhead resistances in the immediate region and then we might see a rally in the short term. We are approaching the end of a symmetrical triangle which usually means a break on either side. However the higher time frame confirms bullish (as well as the overall market scenario for PSUs), so we will probably break out on the upside.
If we don't open above the first resistance wait for a retrace to support zone before opening positions.
Good Luck.