Bank of India hits higher highs with strong momentum
Bank of India has shown a steady uptrend since April after taking strong support around ₹92. The stock, currently trading near ₹133.90, has crossed multiple resistance levels, confirming bullish momentum. A move beyond ₹128 has triggered fresh buying interest, with strong institutional participation evident in recent sessions.
Key support and resistance levels
| Level | Price (₹) | Technical significance |
|---|---|---|
| Support 1 | 120 | Short-term pullback zone; ideal for accumulation |
| Support 2 | 105 | Major demand area; breach could weaken structure |
| Resistance 1 | 160 | Intermediate barrier; breakout could accelerate gains |
| Resistance 2 | 200 | Long-term target; stock may test this level gradually |
Traders can consider buying near ₹133–₹120 with a stop-loss at ₹105. Once the stock moves above ₹160, trailing stop-loss can be raised to ₹140, and again to ₹165 if prices touch ₹180. Booking profits near ₹200 would be prudent in the medium term.
Stay aligned with our professional trading research — explore our latest Nifty Option Tip for precision-based entry and exit signals.
Understanding the trend and risk factors
Bank of India has been part of the public sector banking revival theme supported by improved profitability, lower NPAs, and stronger credit growth. From a technical perspective, the higher-highs formation on weekly charts indicates an established uptrend. However, short-term volatility may persist due to profit-booking near resistance zones.
SWOT summary
| Aspect | Insight |
|---|---|
| Strength | Improving asset quality and healthy credit growth |
| Weakness | Dependence on rate-sensitive income; slower fee growth |
| Opportunity | Expanding retail loan book and digital banking adoption |
| Threat | Rising competition from private banks and fintech players |
Looking to enhance your trading discipline? Follow our expert-curated BankNifty Intraday Tip and stay synced with institutional flow insights.
Investor takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, highlights that Bank of India’s structure remains strong above ₹120. Investors can accumulate gradually with a long-term horizon targeting ₹200 and beyond. Consistent growth in net interest income and improving cost ratios could keep the uptrend intact.
Gain more expert-backed insights and reliable trade setups at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related queries
- What is the next resistance level for Bank of India?
- Is Bank of India suitable for medium-term investment?
- How to trade Bank of India using support and resistance levels?
SEBI Disclaimer: The information shared here is for educational purposes only and should not be treated as investment advice. Readers are advised to perform their own research or consult a SEBI registered investment adviser before investing in the market.
