Banking loser-Indian Overseas Bank stock has strong support at 28

Indian Overseas Bank future chart Indian Overseas Bank stock is trading at 28 rupee with 4% loss. Stock is top loser in f&o segment. Technically stock has given fresh breakdown below 31.2 and achieved its downside tgts of 29.7 and 28.     Below 28 on closing basis stock will be very bearish and has tgts around 26.5 and 24.8 but I think stock might take support at 28 and hit reversal tgts of 29.7 and 31.2.     From long term view, stock below 30 rupee remain bearish and sell for tgts 25-24 and 19 rupees.

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Pramod Baviskar

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