Technical view by Nooresh

Bank of Baroda – Short Term Breakout. Target 630.

Bank of Baroda


Bank of Baroda – A good triangle breakout seen on crossing 585.

Can expect a move to 630-650.


Disclosure: Initiated a btst at 585-588 with a target of 615-620 to clients.


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Nooresh Merani

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{ 2 comments… add one }
  • R Gururaj October 24, 2013, 07:18

    agree with your observations. but this has to happen before quarterly results. The bond market has taken a hit and the lesser the proportion of securities M2M the better for the PSB. ALL PSBs have invested heavily in the last two three years in GOI bonds and recent fallout would take a heavy toll. Expect many of the PSBs to incur losses this quarter since they have to provide for the depreciation in MV of M2M securities. I Have not seen any analyst taking this important aspect into account.

    • Nooresh October 24, 2013, 09:24

      Hi Gururaj,

      As a technical analyst i generally prefer to not take into account impact of results. Also the above analysis you have shared is being known to all the analysts and people are factoring in the same. Anyways we have a week before the results are out and our trade is for btst or a couple of sessions. Will comment here again on seeing result impact and the things will be more clear.


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