Bank of Baroda stock technical outlook
BOB share is trading at 163 with almost 8% loss. BANKBARODA stock is top loser in F&O as well as in nifty 50 index.
Stock is in uptrend and hit upside target of 169 and almost hit second target of 182 with high near 180. Now in correction and heading towards major support zone of 159. Above 159 outlook as well as trading strategy should be buy on dips with stop loss for targets 169 and 182 once again. Daily closing below 159 means fresh downtrend and lower targets of 147 and 136 which we already saw in last panic US election sell off.
Stock future traders can above 159 keep buy on dips view but risk remain as market is very bearish and volatile. On upside 169 and 182 are positional targets for stock future. Option traders can buy BANKBARODA 180 call options on decline with stop loss for big gain in dec series. Dec option hit low near 4 while high was near 10 rupee and trading at lows.
BANKBARODA stock achieved its medium term target of 180 rupee after breakout above 160 rupee. Above 160, long term trend and outlook will remain bullish and buy on dips.