Sameet Chavan of Angel Broking told CNBC-TV18, "Bank of Baroda has seen a massive correction from higher levels of Rs 220-225. It has been trading with a negative bias since last few months. However, Rs 140-145 was a strong support zone on monthly charts. It was a trendline support, today and on Friday the stock found a strong support around Rs 140-145. Post it's numbers, it has given a massive bounce back of nearly 10-12 percent upmove."
"Looking at the momentum and the volumes, it appears that the stock might give further bounce towards Rs 173-176 which is the strong resistance zone. So as of now looking at the momentum, further bounce is quite possible towards Rs 173-175," he added.
Disclosure: The stocks may have been recommended to his clients but analyst does not have any personal positions.
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