Sell Bank of India December future; target Rs 290: IIFL

22575 Investors following Bank of India. Share this News with them.

0

Like this story, share it with millions of investors on M3

Sell Bank of India December future; target Rs 290: IIFL

According to IIFL, traders can sell Bank of India (BOI) December future below Rs 306.5 with stop loss of Rs 314.75 for target of Rs 290, in its December 19, 2011 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Alpha Trade: Short Axis Bank, long Bank Nifty Sell Bank NIfty at CMP; target 7800: Aditya Birla Money Buy Bank of Maharashtra; target Rs 52: Angel Broking 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 01/06/12 Are Mutual Funds betting on Bank of India?

According to IIFL, traders can sell Bank of India (BOI) December future below Rs 306.5 with stop loss of Rs 314.75 for target of Rs 290, in its December 19, 2011 research report.

"Bank of India has violated the support line of rising wedge pattern and convincingly closed below the Doji trough of Thursday trading session. The Friday candlestick was a bearish engulfing line pattern which turns out to fresh trend reversal pattern after the support was violated. Adding to it the weekly RSI has given negative crossover which supports selling argument in the counter. We recommend going short on Bank of India Dec Future below Rs 306.5 with stop loss of Rs 314.75 for target of Rs 290. (Duration 7 days)," says IIFL research report.

Non-Institutions holding more than 90% in Indian cos

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.

To read the full report click on the attachment