Buy Bank of India, target Rs 320-325: Rahul Mohindar

Rahul Mohindar, Technical Analyst at viratechindia.com is of the view that one can buy Bank of India with a target of Rs 320-325.

Rahul Mohindar, Technical Analyst at viratechindia.com told CNBC-TV18, " Bank of India has seen a bit of a correction over the last couple of months. We have seen July and August being largely sideways to negative. The bottoming out formations that its setup around Rs 260, we kind of have done some base building already. So, we are out of the woods there. Volumes have really been declining in this July-August phase and this base building is really a consolidation to a breakout now."

"At this point Rs 305 is a reasonable target to be trading in for in Bank of India in the very short term for the next couple of days, Rs 286 is a good stoploss to be buying in the stock for but again I think Rs 320-325, given a month or two, the stock can deliver a lot more. So, Bank of India looks like a good breakout at this point," he added.

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