BANK OF BARODA – HANGING MAN – 23.05.2019

• Bank of Baroda has posted their Q4 results yesterday with some cut in their net loss.

• Today the election result and the Q4 result made the stock to rise 10 % within opening 2 hours but the bulls couldn’t able to hold their ground. The price began to fall for rest of the day.
• Considering the volatility of the beginning 2 hours, we can fix the stop loss at half of the Hanging man tail instead for the full length. ( Whether this can be considered or not i don’t know, expert’s advice is needed )

The conditions for Hanging man are :

1. Following a series of positive candles, a negative candle with upper tail twice lengthier than the body of the candle should appear.( Yes present)

2. The negative candle which resembles the inverted hammer is called Hanging Man.

3. The volume during the Hanging Man should be high. (Yes high volume is present )

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Stock Ticker – NSE: BANKBARODA – Bank of Baroda – FINANCIAL SERVICES
Bearish Trade plan:
Entry Level 126.80 Target 116.30 Stoploss 137.30
Analyst Rating – :4/5
View Posted on 2019-05-23