We anticipate the stock to rise further in the coming days with strength in volume.
Narnolia Financial Advisors
Bank of India has given a decent correction from the peak of Rs 216 to Rs 73 and takes support at its lower levels. Now it has regained strength indicating a positive bias. Formation of cup and handle pattern is suggesting upside strength. Emergence of Bullish engulfing candle on weekly chart is further showing strength.
We anticipate the stock to rise further in the coming days with strength in volume; one can take long position above Rs 89 levels for the target of Rs 100 with stop loss of Rs 83 on closing basis.