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Bank of Baroda share price has been rising well since the beginning of this month. The short-term outlook is bullish. Immediate support is at ₹209. Below that ₹207 and ₹205 are the next supports. The chances are high for the stock to sustain above ₹209 itself. The 21-Day Moving Average (MA) is on the verge of crossing over the 55-Day MA. This strengthens the bullish case. It also indicates that the downside could be limited.
Bank of Baroda share price can rise to ₹235-240 over the next three-four weeks. Traders can go long now. Accumulate on dips at ₹210. Keep the stop-loss at ₹203. Trail the stop-loss up to ₹221 as soon as the stock moves up to ₹226. Move the stop-loss further up to ₹227 when the price touches ₹231. Exit the long positions at ₹235.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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