Short Bank of Baroda as a Bearish Belt Hold Pattern has been formed which signals a downtrend
MACD is also showing a correction
RSI is well above 30 zones meaning that its still not Oversold and we may see a Pull-Back Soon
103 is an important Fib Resistance level and there is heavy Call Writing in OC at 100,105,110 levels so they will act as very strong...
BOB looks good to sell with CMP-88.6, targets of 80 and 68 for upcoming weeks, with stop loss of 95. As broken its support and Gap filling likely to be done.
A strong bank having very good record. Accepting merger to expand business. though there are few challenges we could see from the chart pattern that it will have few more up days on its way. further international really does not shown complete impact on our market yet
Breakout with not super high volumes but slightly higher than average. Lets see if it gets any carry forward. All PSU banks currently seem to be extra bullish.
The only current fear is IL&FS. Lets hope they can smoothly ride it out and go from strength to strength.
PS: Would go long above 144.
BANKBARODA
