Swing Buy - BankIndia

Bank Of India as on 14th August 2012

Undoubtedly the trend of Bank of India is down,but at this point we have started getting signals of the trend reversal. After a spinning top doji at the bottom, Today we have traded above the high of the spinning top doji and closed above it too. 

A spinning top doji can occur at the tops and bottoms also and This candlestick formation suggests indecision and wreaking on the prevailing trend

RSI is in the highly oversold zone and in the last 2 trading sessions has bounced back from its recent lows again adding confidence to the idea of the prices of Bank Of India moving towards 300.

ACTION : BUY BOI CMP 275 TGT1 285 TGT2 302,SL 271

DURATION : 3-4 days

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Heeta Luthra, Technical Analyst

Team TopdataIndia

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