January 21, 2016
Bank of Baroda (NSE Cash)
BUY
` 117
` 125 - 124
` 140
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: - 14:10 IST)
Justification:
Similar to its peer counters, this stock too underperformed significantly in last 10 months. After a massive fall
for nearly 30% in last couple of months, we are now observing some early signs of reversal. The daily chart
depicts a ’Bullish Hammer’ pattern, which may get confirmed considering the ongoing momentum. The ‘RSI-
Smoothened’ oscillator on the daily chart looks deeply oversold and thus, we expect it to lead a sharp bounce
in the near term. Considering the current chart structure, we advise traders to buy this stock at current levels
and on declines to ` 124 for a target of ` 140 in coming 14 to 21 trading sessions. The stop loss for this trade
set up can be kept at ` 117.
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January 21, 2016
Last 7 recommendations
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Target Achieved
Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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