The stock of Bank of India has been rising since early last week. The uptick began on the back of the support at ₹110. The price is now above both 21- and 50-day moving averages, a positive indication. Also, early this week, the stock surpassed the resistance at ₹114. Hence, the probability for a rally is high. That said, from the current level, the price might moderate to ₹114 before the next upswing.
Therefore, traders can buy the stock at ₹116 and accumulate at ₹114. Place initial stop-loss at ₹112. When the price rises to ₹120, revise the stop-loss to ₹116. On a rally to ₹124, tighten the stop-loss further to ₹121. Book profits at ₹126.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on August 21, 2025
