Bank of Baroda: Riding the 5-Wave UP, Now Bracing for ABC DOWN

As evident from the chart, Bank of Baroda has successfully completed its five-wave uptrend, followed by a notable sell-off. This sell-off appears to signify the completion of a corrective wave, which often precedes a countertrend movement. Considering the subsequent upside movement as a B wave, it's customary for B waves to culminate around .6 and .7 retracement levels, forming an ABC pattern. Anticipating the arrival of the C wave, it presents an opportunity for a short-side trade initiation.