Sell Bank of Baroda, target Rs 165: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have seen a sharp recovery in Bank of Baroda (BoB) in last 17 trading sessions but it is continuously finding a sustained selling pressure near Rs 180-182 zone. We have seen built up of short position in last two trading sessions where open interest (OI) has increased by 10 percent, which is clearly indicating that shorts are now coming into the stock. So we are recommending to sell BoB with a stop loss of Rs 180 for the downside target of Rs 165."

At 10:00 hrs Bank Of Baroda was quoting at Rs 170.80, down Rs 3.95, or 2.26 percent. It has touched an intraday high of Rs 173.50 and an intraday low of Rs 170.50.