Bank of Baroda(stock symbol: BANKBARODA) has been trading within a triangle pattern since December 2022, but it has recently broken out of this pattern. During the triangle formation, the stock tested the lower trendline six times, and each time it tested, a substantial rally followed. On June 19, 2023, the stock broke above the upper trendline with decent...
Incorporated in 1993, Baroda Extrusion Limited is into manufacturing of copper finished goods, extrusion products, its job work and trading in ferrous and non ferrous metals.
Bank of Baroda is taking support at Rs 99.50 which is the previous high and 20 days MA. Expect to bounce back to Rs 105 - 106 levels. If BOB breaks over Rs 107 with volume on closing basis, it can reach a target of RS 120 - Rs 130.
As RBI is facing tremendous pressure to bail out PS/Corporate banks I believe that we will slowly begin to see a short term correction in the bank sector. I expected BOB to either break out and test supply zone at 190 before potentially making another leg up. The second scenario is that the bearish sentiment forces BOB to test demand zone at 100-120 before it...
