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2 months ago
BUZZ-India's Bank of Baroda hits near 3-month low; technicals indicate more downside
June 20, 2017 / 5:09 AM / 2 months ago

BUZZ-India's Bank of Baroda hits near 3-month low; technicals indicate more downside

** Bank of Baroda shares fall as much as 1.52 pct to 165.5 rupees, their lowest since 24 Mar

** Stock price cuts below its 200 day Simple Moving Average (SMA), seen negative for the stock tmsnrt.rs/2rPYBhg

** Stock also breaks a support at 166.9, the 38.2 pct Fibonacci retracement level of the uptrend from the Feb 12, 2016 low to May 5, 2017 high

** Trend Intensity indicator (TI) also rises to 17, indicating the start of a new downtrend

** Stock is up 9.55 pct this year as of Monday’s close, underperforming Nifty PSU Bank Index which gained 16.93 pct in the same period

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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