BANK OF INDIA Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock has formed head and shoulder formation , will favor bulls once closes above 297. (Updated on 08th September 2014, Monday).

BANK OF INDIA

• As per previous report published on Bank Of India, stock has shown weakness from its resistance and failed to breaks 303 on upper side, made a low around 262. (Click here to see previous report published on BOI).
• Now current chart indicates that stock has formed head and shoulder pattern , this indicates that once stock breaks it formation on upper side then BOI will be in bulls grip for next few trading days, as shown in graph no1.
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• As per stock analysis chart no2, stock is also moving in down channel pattern and now trading above its pattern ,  this will favor bulls to take stock further up, On upper side stock will find strong trend line resistance around 297, 303 and 310. Once closes above it resistance level mentioned above then stock will be strong grip for next few trading days.
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• Intraday trading tips - close watch once stock starts trading above 297, if holds above 297 then intraday bulls action is expecting.
• As per chart no3, stock is now trading above 20 days moving average, so as long as holds above 20 DMA bulls will be favored but once closes below 20 DMA then stock will shown first minor bears signal. Close Watch.
• BOI chart no 4 also indicates that it is holding its strong trend line support, from last 2 times stock broke its support and bounce back again and made a false breakout. As long as stock holds its trend line support chances are high stock can move up.
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