Tuesday 7 October 2008

Buy Bank Of Baroda at Rs 270-272: Mathew

Technical Analyst, E Mathew is of the view that one can buy Bank Of Baroda at Rs 270-272. One could look for a medium-term target of Rs 330-340.

Mathew told CNBC-TV18, "Bank of Baroda is certainly outperforming but here I must add that I had noticed a new tendency in the market now. I guess the guys who are going short are now identifying those strong stocks and then they are coming and hitting it. But inspite of that I do feel that Bank of Baroda on declines maybe if there is a big panic and the stock declines to around Rs 270-272 zones could make for a good buy. Incidentally the Rs 270 is a strong support zone as of now and I do feel that fundamentally also it’s sound counter. But technically also if could get it around Rs 270-272 it could be a good buy. One could look for a medium-term target of Rs 330-340."

Source: Moneycontrol

Posted by Harsh at 06:58

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.