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Technical Talk: Bank of Baroda forms an Evening Doji Star pattern

On Wednesday, the stock of Bank of Baroda closed at Rs. 100.70 per share, dipped by 5.31 per cent.

Vinayak Gangule 1 929 Article rating: 4.3

On Wednesday, the stock has formed an Evening Doji Star candlestick pattern on the daily time frame. Evening Doji Star is a reversal candlestick pattern that is bearish in nature and appears at the end of an uptrend.

Stock watch: Karnataka Bank gives a consolidation breakout

Interestingly, the leading indicator, 14-period daily RSI has given a falling channel breakout on the daily chart, which is a bullish sign.

Vinayak Gangule 0 870 Article rating: 4.0

On Wednesday, the stock has given a 36-days consolidation breakout on the daily chart. This breakout was supported by a robust volume of nearly 4 times of 50-days average volume, which indicates important buying interest.

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