Hi friends, after a long gap again updating my view, this time I have come out with BANK OF BARODA, on last Friday (17/05/2013) it was closed on 740.45, now nearly at a very small supply zone, and once it will breach 746, it will rush for 863-876, but before that it may take a pause near around 788-804, above 746 it is good for long with a stop loss of 725. But personally I would like to share another view, there are another entry rather than break out entry, 728-736 is another good entry zone with a stop loss 721, confusing with different stop loss?? Well let me explain two entry.
- Break out entry: On Monday, if it will start trading above 746, then buy there and keep the stop loss of 726, as it will then already on the break out movement.
- Other entry: On Monday, if it is unable to cross 746 then wait for 728-736 zone, in that case keep your stop loss 721, so Monday first hour is going to be crucial for entry, track it and grab it.
