Shares of Bank of Baroda hit near 3-month low, and technicals indicate more downside.
The stock fell as much as 1.52 per cent to Rs 165.5, its lowest since March 24, 2017.
The stock price has been cut below its 200 day simple moving average (SMA), which is seen negative for the stock.
The stock has broken a support at 166.9, the 38.2 per cent Fibonacci retracement level of the uptrend from the February 12, 2016 low to May 5, 2017 high.
Trend Intensity indicator has also gone up to 17, indicating the start of a new downtrend.
The stock was up 9.55 per cent this year as of Mondays close, underperforming Nifty PSU Bank Index which gained 16.93 per cent in the same period.