Trade 9: BANCOINDIA

Buy BANCOINDIA

BUY = 105

STOP = 85

TARGET 1= 150 , TARGET 2 = 180

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Weekly Chart of BANCOINDIA

Why BANCOINDIA is a Buy?

The price zone of 105 to 120 is a major resistance zone for bancoindia, since July 2019.

The stock witnessed some serious consolidation in the last few weeks.

A breakout is possible if momentum sustains.

Once the price level of 120 is pierced, the target of 180 seems possible.

But the target of 150 is well within reach.

Therefore, we have provided two targets that are 150 and 180.

Partially profit booking should start from 150.

This stock is a buy at 105 with a stop of 85.

The first target is 150 followed by a second target of 180.

Comments

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