Sell Bank of Baroda, advises Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "I do have a sell on Bank of Baroda (BoB). We recommend that traders can sell BoB October futures below the levels of Rs 510 and the stoploss would be at Rs 526. We expect BoB to move towards Rs 470 or even lower levels."

"The Bank Nifty chart structure is even weaker than most other indices. We have already seen a correction from around 11,200 to 10,100 but we feel that looking at the last three-four days as well as the overall way of structure, we are quite bearish in Bank Nifty," he said. At 11:18 hrs Bank Of Baroda was quoting at Rs 505.20, down Rs 4.10, or 0.81 percent. It has touched an intraday high of Rs 511.80 and an intraday low of Rs 501.20. The share touched its 52-week high Rs 899.65 and 52-week low Rs 429.25 on 03 January, 2013 and 20 August, 2013, respectively. Currently, it is trading 43.84 percent below its 52-week high and 17.69 percent above its 52-week low. Market capitalisation stands at Rs 21,345.72 crore. Also Read: RBI move good; won't suffer treasury losses: BoB