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Oriental bank of commerce- bull pennant

Discussion in 'Technical Analysis' started by drsuraimardi, Oct 14, 2012.

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  1. drsuraimardi

    drsuraimardi New Member

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    Hi friends ! I think ORIENTAL BANK should be kept in watchlist for a possible breakout because it is forming a bull pennant.SL 277.Buy signal above 307..But it has got so many resistance levels at 325/344/360/376 .Calculating the pole of flag the target is 376..Please share views.Can RBI policy push it to higher levels ?
     

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    drsuraimardi, Oct 14, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    280 is good intermediate stop loss but the next stop loss is at 210 and so ideally I would wait for some consolidation in range of 280 to 300 for this stock.
     
    shabbir, Oct 15, 2012
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  3. drsuraimardi

    drsuraimardi New Member

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    Thank you Shabbir !
     
    drsuraimardi, Oct 15, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Oct 15, 2012
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  5. yankeedin

    yankeedin Responder

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    obc breaks above

    obc has consolidate in range of 280-300 and now has broken above 300 decisively. If it opens tomorrow above 314 it will move further ahead to 350. Just watch out.
     
    yankeedin, Oct 25, 2012
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