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What does the merger say for BoB, Dena and Vijaya Bank on technical chart?

Dena Bank is down 18 per cent, while Vijaya Bank is trading 7 per cent lower. On the other hand, shares of Bank of Baroda rose 2 per cent.

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Bank of Baroda is an Indian state-owned International banking and financial services company | Photo: Shutterstock

Avdhut Bagkar Mumbai

Last Updated : Jan 03 2019 | 12:03 PM IST

The Union Cabinet gave its nod to the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda on Wednesday.

The opening trades indicate negative sentiment for Dena Bank and Vijaya Bank as both the stocks had gap down opening. Currently, Dena Bank is down 18 per cent, while Vijaya Bank is trading 7 per cent lower. On the other hand, shares of Bank of Baroda rose 2 per cent.

BANK OF BARODA: The stock faces resistance at 200-day moving average (DMA) located at Rs 127, which is near its gap down opening range of Rs 126.50 - Rs 131,

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