Testing time for Bank of Baroda

Since the February low of ₹509, Bank of Baroda has been on a medium-term uptrend. However, indicators on the daily chart are displaying negative divergence, implying trend reversal is on the cards. The stock is now testing a long-term resistance at ₹850. The bank is declaring its fourth quarter and financial year performance on Tuesday. Disappointing numbers can weaken the stock to ₹800 or ₹750. However, a break of ₹850 can push it to ₹900.