[Premium] Trade Of The Week

January 31, 2022

For a while now PSU Banks have been performing better than their counterparts-Private Banks. We have another name popping up from this sector.

Let's take a look at the trade for this week!

Bank of Baroda has made its way to the TOW post this week. The price broke out above the level of 102 and broke out of a three-year base. We have a base breakout, guys! With PSU Banks marching on, BoB seems to have found its momentum as well, as indicated by the lower pane. On a relative basis too, the ratio is displaying renewed strength.

The price has moved past a significant level that will act as the risk management level going forward. With this breakout, the next target to track would be 138.

A move below 102, and our exit strategy would come into play.