Bank of India Short term Trade idea

Scrip Name: BankIndia CMP :196.5	Comment
Trade Check List
Is Stock Trading Above or Below Bollinger Band Level	Below band
Is ADX is < 20 & RSI Value	23.75, & 27.35
Support Level	190.8, 185
Resistance Level	206.9, 217.2
Action, Target	Buy, 5EMA- 209.2

I will be buying this @ his 2nd support level 190.8. I feel this is a good time to enter into Banking sector, Bank India is heavily beaten down, hope it recovers and touches its average mean price sooner. It might cross 5 day EMA if the news are favorable( an Immediate uptrend might be seen).

*Odds against this trade

1. Liquidity crunch by RBI.