Stop Loss: Rs 130
Target: Rs 144
Bank of India has witnessed a breakout from a rounding bottom pattern on the daily chart, closing the session with a strong bullish candlestick, indicating robust accumulation and renewed buying interest. The stock is trading comfortably above its 20, 50, 100, and 200-day EMAs, reaffirming the strength of the prevailing uptrend. With the RSI at 72.80 and trending higher, bullish momentum remains strong, suggesting potential for further upside in the near term.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)