Bank of India (NSE:BANKINDIA) is one of the leading public sector bank have rallied close to 50% over the last two months have reached the resistance levels. Over the last three to four trading sessions, the stock has witnessed sharp correction with reasonable volume. It is highly likely that Bank of India will turn even more bearish in the coming days. The stock can be shorted with stop loss of 115.
Right now the stock is trading below it is 10 days moving average and the momentum indicator RSI is showing over-weight. On the other hand, the MACD and Parabolic SAR are also showing trend reversal.
Today the stock went down by 2.06% percentage in National Stock Exchange with volume of 4.7 Million shares.
Bank of India, Sell Bank of India, Breaks 10 days SMA, RSI Oversold