BoB may remain laggard till SBI Q3 nos: ICICI Direct

Amit Gupta of ICICI Direct feels Bank of Baroda may slide further. The stock may remain a laggard till SBI results, he adds.
 
Gupta told CNBC-TV18, “Cipla may fall, prey to some long liquidation because it has seen lot of build up, around 10-15 percent addition in the last couple of weeks and in the current series. When it is not holding around for Rs 400 levels, one can see some more long liquidation. It may fall by 3-4 percent further.”
 
“Bank of Baroda is a clear case of some short build up because after Punjab National Bank (PNB) results we had seen some long build up in the stock. But immediately when the stock disappointed with the results, from there initially the long liquidation came and afterwards there was 5-6 percent of immediate short addition we saw in the stock. So far it has not been able to sustain above those levels. However, there is a possibility that Bank of Baroda may slide further and till the State Bank of India's results announcement on February 14th, the stock may remain a laggard only,” Gupta added.