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Last Updated : Dec 17, 2018 11:37 AM IST | Source: Moneycontrol.com

Buy Bank Of India above Rs 89, target Rs 100: Shabbir Kayyumi

We anticipate the stock to rise further in the coming days with strength in volume.

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Shabbir Kayyumi

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.

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Dec 17, 2018 11:37 am
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