Sell Bank of Baroda, target Rs 122: Jayant Manglik

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26 Aug, 2025 12:21

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Jayant Manglik

Most PSU banking counters are reeling under pressure and Bank of Baroda is no different. After retesting the resistance zone of multiple moving averages (100 and 200 EMA) on the daily chart, it has resumed the downtrend and is likely to maintain this bias ahead as well.

The chart pattern and confirmation indicators are also pointing towards a further fall. We advise creating fresh short on any bounce within Rs 133-135 for target of Rs 122 per share.

Disclaimer: The author is President - Retail Sales at Religare Broking. The views and investment tips expressed by Religare Broking on moneycontrol.com are its own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.