Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  India Infoline puts SELL on Bank of Baroda
BackBack

India Infoline puts SELL on Bank of Baroda

India Infoline puts SELL on Bank of Baroda

Premium

The stock corrected sharply from the levels of Rs327 in the second week of October 2008 to a low of Rs214 in the last week of October 2008. Since then, it rallied smartly to a high of Rs303 in the second week of November 2008 before correcting back to Rs270 levels.

It has seen good support at the upward sloping trendline since October-end 2008. On Tuesday, the stock fell below the short-term trendline and also closed below its near and short-term averages.

The daily MACD is already in sell mode suggesting build-up of momentum on the downside. Based on above-mentioned technical evidences, we recommend traders to SELL the stock up to Rs250 levels for target of Rs225 and Rs220 levels. A stop loss of Rs255 is recommended on all short positions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 26 Nov 2008, 09:48 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App