Technical Analysis of Indian Equities by Nooresh

Bank Of India — Oversold and Positive Divergence



The stock has made new lows and dropped sharply from 350 to 250 in last 2-3 months. Highly oversold but continued to fall further but last two bottoms show a clear positive divergence on RSI. One can buy around 258 with a stoploss of 250 and upside target of 275 ++ .

As the trend is down the bounce backs will continue to see resistance at higher levels.

Keep strict stoplosses as its a bounce back trade.


Technical Analysis Training Session Mumbai September 2nd week. For More details mail to with your contact details or call Nooresh 09819225396



Happy Investing,


Nooresh Merani

Article by Nooresh Merani

Nooresh has written 2807 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.