April 18, 2017
Bank of Baroda (NSE Cash)
176 - 178
14 - 21 sessions
Source: Falcon (Time: 09.35 IST)
In last three weeks, we have witnessed a good catch up rally from the ‘PSU’ banking space. After PNB, OBC, Union Bank
and Canara Bank, this stock has caught our eye considering the overall chart structure on near to medium term charts.
We are witnessing series of breakouts in the recent past as the stock prices seem to have followed a typical pattern.
Today, we can observe a clear price-volume breakout from the consolidation of nearly two weeks from the hurdle of 177
on hourly chart. The volume activity too picked up substantially in the recent up move. In addition, the ‘RSI-Smoothened’
has crossed the 70 mark in the northward direction, which we believe would provide the impetus for the extension of the
we advise traders to buy this stock at current levels to a decline up to
176 for a target of
191 over the next 14 to 21 sessions. The stop loss should be fixed at
022-3935 7600 Extn: 6552
April 18, 2017
Last 14 recommendations
CMP Target 1 Target 2 Stop-loss
244 - 246
1550 - 1560
306 - 309
714 - 718
97 - 98
1290 - 1300
Booked at 152.50
2840 - 2855
725 - 732
88 - 89
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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