Bank of Baroda

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 BOB daily chart


Analysis

Prices are moving in a higher highs and higher lows but has completed five waves up which is a caution for the bulls. Also wave 5 has moved up till 38.2% from 0-3 added to 4 thereby opening the possibility of a reversal. As of no no reversal is seen but any move below 198 will open the doors for 185 followed by 170 levels.

The summation is BOB is on the brink to form a top, any move below 198 will open negative possibilities which can slump price towards 185 levels followed by 170.

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