Central Bank of India
CBI is taking support at its medium term trendline as shown in charts.
Weekly chart is forming Hammer and GraveStone Doji indicating downtrend is coming down
Buy above 159 tgt 162.6 and 165.5 and 170
The stock stalled around its 200-DMA and 20-DMA, which is acting as a stiff resistance.
Inability for the stock to close above this trendline over several attempts suggest weakness.
If it is unable to hold on to Rs135 levels, it could retrace all the way to the levels of Rs125 and below.
Sell below Rs133 with stop loss of Rs138 for target of Rs128,125 and 123.