Today's Opening - 122
Today's High - 123
Today's Low - 120
Today's Closing - 122
I am writing on this stock for the first time ever.
Seven days of continuous negative closing, with volumes today significantly higher than the past 30 days average. This is not good news for the stock.
The stock price has been below the 5-day Exponential Moving Average (EMA) for more than an year now.
The 2-day Relative Strength Index had remained below 50 since 18th April and has now gone below 35 over the past two days.
The 20-day Commodity Channel Index has been negative since 18th April and has further dropped below -150 over the past two sessions.
The 2-day Relative Strength Index had remained below 50 since 18th April and has now gone below 35 over the past two days.
The 20-day Commodity Channel Index has been negative since 18th April and has further dropped below -150 over the past two sessions.
The 12, 26-day Moving Average Convergence Divergence has been negative since 3rd May. The 14-day Negative Directional Index got stronger than the Positive Directional Index since 10th May and the gap has only increased since then.
More than the Rs 3,102 crore Net Loss that the company had posted in Q4, the 190% YoY rise in the Q4 NPA's is a major worry for this stock. Though the bank is looking to monetise by selling stakes in non-core assets like Baroda Pioneer Asset Management Company, BoB Cards, IndiaFirst Life Insurance, UTI and Bank of Nainital, recovery for this bank seems a while away.
 |
| 6 Months Trend for the Positive (Green Worm) and the Negative (Red Worm) Directional Indices |
More than the Rs 3,102 crore Net Loss that the company had posted in Q4, the 190% YoY rise in the Q4 NPA's is a major worry for this stock. Though the bank is looking to monetise by selling stakes in non-core assets like Baroda Pioneer Asset Management Company, BoB Cards, IndiaFirst Life Insurance, UTI and Bank of Nainital, recovery for this bank seems a while away.
After losing almost 10% over the past three months, Bank of Baroda has broken the support level of Rs 126 and closed below it for three days in a row now. The stock might further drop upto Rs 109. Keep buying on dips with a long-term view.
If you find this analysis useful, you might want to read through my latest posts on Vedanta, Lupin and Tata Motors.
If you find this analysis useful, you might want to read through my latest posts on Vedanta, Lupin and Tata Motors.
Comments
Post a Comment