Bank of Baroda-Head and Shoulder-Bearish -Entry: 175 SL:192 Trgt: 150 1-2 mnths

[M Prem Rajan]

Bank of baroda has shown a head and shoulder pattern with increased volume on the left shoulder and head. The volume is reducing gradually, although it had breached the stop loss of 192 and reached 196, it is again in a downward trend, and an entry at the neckline of 175 should be a good bet by taking a short position with a target of 150 within a period of 1-2 months, i.e., by December starting 2015.

[M Prem Rajan]

Price has reached the entry levels on 12-oct-205.

[Johnson]

Graphically it looks like head and shoulder pattern,but it is not able to break the neck line due to support at the  level -168.

[Author]

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