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Sell Bank of Baroda December future; target Rs 672: IIFL
According to IIFL, traders can sell Bank of Baroda December future below Rs 688 with stop loss of Rs 714 for Target of Rs 672, in its November 23, 2011 research report.
According to IIFL, traders can sell Bank of Baroda December future below Rs 688 with stop loss of Rs 714 for Target of Rs 672, in its November 23, 2011 research report.
"Bank of Baroda (BOB) on the daily has violated trend line support of Rs 690 and which also reinforces that Wave 5 of Five is in the last stage of progress which should atleast test levels of Rs 650 before any signs of recovery. The MACD has been sustaining below the reference line and its 9DMA is about to test the neutral zone. Also despite gains in market stock has underperformed markets which also make case for further downside. We recommend going short on Bank of Baroda December Futures below Rs 688 with stop loss of Rs 714 for Target of Rs 672.(Duration 5 days)," says IIFL research report.
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