BANK OF BARODA
- BANK OF BARODA shows some weakness after touching golden ratio resistance around 920, daily chart indicates stock is facing strong resistance around 920, as shown in chart no1. But once BOB closes and stays above 920 then further up trend is expecting for next few trading days.
- Intraday close watch once stock starts trading above 920, if holds above 920 in day trading then can see some intraday bulls action and price will move up.
- Suggested Reading - SIEMENS has formed descending triangle formation, weakness expecting once it comes out.
- Daily chart also indicates that stock is moving trading above 20 days moving average as long as stock trades above it will be favored by bulls. Even Stock major trend indicator "MACD" is moving in a positive zone and also above level zero this indicates stock to show to some strength in coming days as long as MACD moves in positive zone.
- As per graph no3 , if stock closes above 920 and stays above then will find next strong resistance around 1010 its previous top as shown in graph no3.
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