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Aditya Birla Money is bearish on Bank of Baroda and has recommended sell rating on the stock with a target of Rs 837 in its June 10, 2011 research report.
“Bank of Baroda after falling from the level of 1007 took support near 800 levels and has been witnessing an upside recovery subsequently. From an Elliott wave perspective said recovery has unfolded into a-b-c flat corrective pattern where first two legs have been completed and last leg i.e. the c-wave is currently underway.”
Aditya Birla Money is bearish on Bank of Baroda and has recommended sell rating on the stock with a target of Rs 837 in its June 10, 2011 research report.
“Prices are currently positioned just below the resistance of 882-890 (formed by 55-day EMA and higher end of falling channel) while the current up move has subdivided into five wave five wave pattern. Hence it is possible that the stock could se
“Bank of Baroda after falling from the level of 1007 took support near 800 levels and has been witnessing an upside recovery subsequently. From an Elliott wave perspective said recovery has unfolded into a-b-c flat corrective pattern where first two legs have been completed and last leg i.e. the c-wave is currently underway.”
“Prices are currently positioned just below the resistance of 882-890 (formed by 55-day EMA and higher end of falling channel) while the current up move has subdivided into five wave five wave pattern. Hence it is possible that the stock could see a turnaround and resume its prevailing weak tone in the coming trading sessions. Comfortable close below yesterday’s low of 869 could signal the resumption of such weakness which finds support near 837 and then 820 levels subsequently. Sell only below 869, with a closing stop of 885 for possible targets of 837 and then 820,” says Aditya Birla Money research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
e a turnaround and resume its prevailing weak tone in the coming trading sessions. Comfortable close below yesterday’s low of 869 could signal the resumption of such weakness which finds support near 837 and then 820 levels subsequently. Sell only below 869, with a closing stop of 885 for possible targets of 837 and then 820,” says Aditya Birla Money research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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