Buy Bank of India above Rs 319; target Rs 332: IIFL

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Buy Bank of India above Rs 319; target Rs 332: IIFL

IIFL is bullish on Bank of India (BOI) and has recommended buy rating on the stock with a target price of Rs 332 in its January 23, 2012 research report.

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RELATED NEWS Accumulate Dish TV India; target of Rs 73: Emkay Buy Commercial Eng; target of Rs 91: SPA Research Buy HCL Tech; target of Rs 530: Prabhudas Lilladher ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Bank of India See messages about Bank of India Bank of India BSE | NSE 31/05/12 Are Mutual Funds betting on Bank of India?

IIFL is bullish on Bank of India (BOI) and has recommended buy rating on the stock with a target price of Rs 332 in its January 23, 2012 research report.

"Bank of India (BOI) has given a breakout from rectangular band of Rs 312-295 on Friday with impressive volumes, which has turned the short term trend to positive. The immediate projection on the upside is seen at Rs 332 based on the concept of range breakout. The volumes have gone up during the breakout which supports the buying argument in the counter and any pullback to retest the support line of its 100-DMA placed at Rs 316, which should be used as a buying opportunity. We advise buying the stock above Rs 319 with stop loss of Rs 313 for Target of Rs 332," says IIFL research report.

Public holding more than 90% in Indian cos

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