Public-sector bankHistorical case study · data as of 10 Jul 2026 · published 13 Oct 2026 (95 days later)
Bank of India — 100-point case study
How Bank of India looked on 50 technical and 50 fundamental measures on 10 Jul 2026 — and what happened over the next three months. Education only; not a current view.
Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance
Data note: Screener did not show quarterly results or shareholding for Bank of India today. Quarterly figures are standalone, taken from MarketsMojo; shareholding is from Equitymaster/Accord Fintech, cross-checked with Upstox. Number of shareholders and quarterly depreciation are not available (n/a).
Technical analysis — 50 points
Calculated by code from daily prices up to 10 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Trend
#
Point
Reading
Tag
Commentary
1
Short-term trend (20 days)
slope -0.27%/day
Bearish
Over the last 20 sessions the regression line of closing prices was falling about 0.27% a day — a short-term downtrend.
Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2
Medium-term trend (~5 months)
3M return -1.1%
Bearish
The 100-session trend line was down (-0.18%/day) and the stock was -1.1% over three months, so the medium-term picture was bearish.
Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3
Long-term trend (1 year)
1Y return +26.6%
Bullish
Compared with a year earlier the price was +26.6%. A strong positive year.
Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4
Weekly chart trend
10W 142.92 / 30W 149.65
Neutral
On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages.
Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5
Swing structure (highs/lows)
last highs 151.00→147.11; lows 136.50→134.60
Bearish
The two most recent swing points showed lower swing highs and lower swing lows — classic downtrend structure.
Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6
ADX (14) — trend strength
11.4
Neutral
ADX at 11.4 signals a weak or absent trend (below 20) — range-bound conditions. ADX measures strength only, not direction.
Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7
+DI vs –DI
+DI 26.7 / –DI 24.0
Bullish
+DI was above –DI: upward price pressure outweighed downward pressure.
Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.
B. Moving averages
#
Point
Reading
Tag
Commentary
8
Price vs 20-day SMA
143.64 (+0.9%)
Bullish
Close of 144.90 was 0.9% above the 20-day SMA — the short-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
9
Price vs 50-day SMA
142.17 (+1.9%)
Bullish
Close of 144.90 was 1.9% above the 50-day SMA — the medium-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
10
Price vs 200-day SMA
145.22 (-0.2%)
Bearish
Close of 144.90 was 0.2% below the 200-day SMA — the long-term trend filter was negative.
Bullish close above the average · Bearish close below the average · No neutral zone.
11
9 / 21 EMA crossover
9E 141.57 / 21E 142.43
Bearish
The 9-day EMA was below the 21-day EMA; the last crossover happened on 30 Jun 2026.
The 50-day average was 2.1% below the 200-day. The most recent signal was a death cross on 24 Jun 2026.
Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13
50-day SMA slope
-0.6% in 20 sessions
Bearish
The 50-day average fell 0.6% over the past month — declining.
Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14
MA ribbon alignment
144 / 142 / 149 / 145
Neutral
The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range.
Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15
Monthly anchored VWAP
141.38 (+2.5%)
Bullish
Anchored to the start of July, the volume-weighted average price was 141.38; the close was above it — buyers that month were on average in profit.
Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.
C. Momentum
#
Point
Reading
Tag
Commentary
16
RSI (14)
53.1
Neutral
RSI at 53.1 was in the neutral 45–55 zone.
Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17
RSI divergence (last 40 days)
none
Neutral
Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price.
Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18
MACD line vs signal
MACD -0.72 / signal -0.38
Bearish
MACD was below its signal line — momentum turning or staying negative.
Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19
MACD histogram (5-day change)
-0.43 → -0.34
Bullish
The histogram rose over the last five sessions, meaning momentum was improving.
Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.
D. Volatility
#
Point
Reading
Tag
Commentary
25
Bollinger Band position (%B)
%B 0.60 (bands 137.24–150.04)
Neutral
%B of 0.60 — inside the bands, upper half.
How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26
Bollinger width / squeeze
width 8.9% (15th pct of 6M)
Neutral
Band width was at the 15th percentile of the last six months, a normal level.
How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27
ATR (14)
₹4.44 (3.1% of price)
Neutral
A typical day's range was about ₹4.44, or 3.1% of the price — useful for judging how much 'normal noise' to expect.
How to read: Information only. A higher % means bigger normal daily swings.
28
Historical volatility (30-day)
37.7% vs 1Y 32.7%
Neutral
Annualised 30-day volatility was 37.7%, close to the one-year level of 32.7%.
How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29
Keltner Channel (20, 2×ATR)
133.16–151.62
Neutral
The close was inside the channel, so no volatility breakout.
Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30
Beta vs Nifty 50 (1Y daily)
1.60
Neutral
A beta of 1.60 means the stock tended to move more than the Nifty 50 day to day.
How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.
E. Volume & money flow
#
Point
Reading
Tag
Commentary
31
Volume vs 20-day average
last day 1.51× / 5-day 1.29×
Neutral
The final session traded 1.51× its 20-day average volume and the last five sessions averaged 1.29× — heavier than usual participation.
How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32
Up-day vs down-day volume (20d)
ratio 0.93
Neutral
Average volume on up days was 0.93× that on down days — balanced.
Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33
On-Balance Volume (20d)
OBV falling
Bearish
OBV fell over the month while price rose — volume diverged from price.
About ₹135 crore changed hands per day on average over 20 sessions — liquid.
How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.
F. Price levels
#
Point
Reading
Tag
Commentary
38
Support levels (S1/S2/S3)
144.57 / 136.77 / 122.20
Neutral
Nearest support (prior swing lows) sat at 144.57, 0.2% below the close, then 136.77, 122.20.
How to read: Information only. Levels to watch, not good or bad.
39
Resistance levels (R1/R2/R3)
146.77 / 152.01 / 169.60
Neutral
Nearest resistance (prior swing highs) sat at 146.77, 1.3% above the close, then 152.01, 169.60.
How to read: Information only.
40
Monthly pivot points (for next month)
P 142.01 | R1 150.00 | S1 136.90
Neutral
Classic pivots from July's high/low/close gave a pivot of 142.01; the close was above it.
How to read: Information only.
41
Fibonacci retracement (6M swing)
23.6% 144 | 38.2% 151 | 50.0% 156 | 61.8% 161
Neutral
Measuring the 6-month fall from 178.36 to 134.01, the close was nearest the 23.6% retracement at 144.48.
How to read: Information only.
42
52-week high / low
H 178.36 / L 108.81
Neutral
The close was 18.8% below the 52-week high and 33.2% above the 52-week low.
Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43
Unfilled price gaps (6M)
4 open; latest gap-up 10 Jul at 139.23
Neutral
There were 4 unfilled gap(s). The latest, a gap-up on 10 Jul 2026, left an open level at 139.23 that price had not revisited.
How to read: Information only.
G. Patterns
#
Point
Reading
Tag
Commentary
44
Price structure / chart pattern
falling channel
Bearish
Rule-based pattern scan: falling channel — successive lower highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.)
Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45
Breakout / breakdown (20-day)
range 134.01–151.00
Neutral
The close was inside the prior 20-day range of 134.01–151.00.
Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46
Latest candlestick
Ordinary green candle
Neutral
On 10 Jul the candle opened 139.80, ranged 139.50–146.90 and closed 144.90: Ordinary green candle. Single candles are weak signals on their own.
Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47
Ichimoku Cloud
cloud 141.62–144.43; Tenkan 140.56 / Kijun 142.50
Bullish
Price was above the cloud and the Tenkan line was below the Kijun line — a bullish Ichimoku setup.
Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.
H. Relative strength & summary
#
Point
Reading
Tag
Commentary
48
Relative strength vs Nifty 50
1M -4.2% / 3M -2.0%
Neutral
The stock underperformed the Nifty 50 by 2.0 points over three months and underperformed by 4.2 points over one month.
Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49
Relative strength vs Nifty Bank
3M -5.3%
Bearish
Against its sector index (Nifty Bank) the stock was 5.3 points behind over three months.
Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50
Technical summary
8 bullish · 13 bearish · 27 neutral · 1 caution
Bearish
Across the 49 readings the technical picture leaned negative. Levels that mattered: support 144.57, resistance 146.77. This is a description of the chart on 10 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
Fundamental analysis — 50 points
Uses only results published by 10 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 10 Jul 2026 close.
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Valuation
#
Point
Reading
Tag
Commentary
1
P/E (trailing 12 months)
6.3×
Neutral
At ₹144.90 the market valued the company at about ₹65,888 crore, or 6.3× the ₹10,527 crore profit of the four quarters to Mar 2026. That is a low multiple in absolute terms.
How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2
Price / Book
0.73×
Neutral
Market cap was 0.73× the Mar 2026 book value (equity + reserves) of ₹89,958 crore. For a bank, P/B is the main valuation yardstick.
How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3
Price / Revenue (interest earned)
0.88×
Neutral
Market cap was 0.88× trailing-12-month revenue (mainly interest earned) of ₹75,161 crore.
How to read: Information only.
4
Profit / Book (earnings power)
11.7%
Neutral
Trailing profit was 11.7% of book value — the return the bank was generating on the equity investors were paying 0.73× for.
How to read: Information only.
5
Earnings yield
16.0%
Neutral
The inverse of P/E: each ₹100 invested bought about ₹16.0 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds.
How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6
PEG (P/E ÷ 3-yr profit CAGR)
0.16
Bullish
P/E of 6.3 divided by 3-year profit growth of 39.0% a year gives a PEG of 0.16. Below 1 is often read as growth being cheaply priced; above 2 as expensive.
Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7
Dividend yield (trailing 12M)
3.21%
Bullish
Dividends with ex-dates in the 12 months to the snapshot totalled ₹4.65 a share, a 3.21% yield on the ₹144.90 price.
Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8
Market capitalisation
₹65,888 cr
Neutral
At about ₹0.66 lakh crore the company was a mid-cap.
How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9
Graham number vs price
₹321.02 vs ₹144.90
Bullish
Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹321.02; the price was 55% below it. Quality franchises usually trade above this number.
Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).
B. Growth
#
Point
Reading
Tag
Commentary
10
Revenue growth FY26 (YoY)
+6.0%
Neutral
Revenue (interest earned) for FY26 was ₹75,613 crore, +6.0% versus FY25.
NIM — the spread between what the bank earns on loans and pays on deposits — was 2.58% in Jan–Mar 2026 (as reported). Above ~3.5% is strong for an Indian bank.
Bullish 3.5% or more · Bearish below 3.0% · Neutral 3.0–3.5%.
19
Net interest income growth (Q4 FY26)
+11.0%
Bullish
Core interest income after interest expense was ₹6,730 crore, +11.0% year on year (standalone, as reported).
Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49
Automated screen flags
4 strength(s) · 4 weakness(es)
Neutral
Strengths: Stock is trading at 0.74 times its book value; Stock is providing a good dividend yield of 3.18%; Company has delivered good profit growth of 39.5% CAGR over last 5 years; Company has been maintaining a healthy dividend payout of 19.8%. Weaknesses: Company has low interest coverage ratio; Company has a low return on equity of 11.7% over last 3 years; Contingent liabilities of Rs.6,71,765 Cr; Company might be capitalizing the interest cost. (Flags generated by the data source’s rule screen.)
How to read: Information only.
50
Fundamental summary
17 bullish · 3 bearish · 29 neutral · 0 caution
Bullish
On the numbers published by 10 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 6.3×, P/B 0.73×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
News in the three months before the snapshot
Company news from 10 Apr 2026 – 10 Jul 2026 that an investor could have known on the snapshot date.
30 Apr 2026Board approves raising Rs 7,500 crore via Basel-III bonds — Bank of India's board approved a proposal to raise Rs 7,500 crore through Basel-III compliant bonds, per the exchange-announcement headline. source
08 May 2026Bank of India reports Q4 FY26 standalone profit of Rs 3,016 crore, up about 15% — Net profit rose 14.85% year on year to Rs 3,015.79 crore; NII was Rs 6,730 crore, up 11.01%; gross NPA 1.98% and net NPA 0.56%. source
08 May 2026Board recommends Rs 4.65 per share dividend for FY26 — The board recommended a dividend of Rs 4.65 per share for FY2025-26, with the AGM scheduled for June 15, 2026. source
09 May 2026Analysis notes Q4 profit growth alongside asset-quality questions — A results analysis reported Q4 FY26 standalone profit of Rs 3,015.79 crore and gross/net NPA of 1.98%/0.56%, and capital adequacy of 18.01%. source
22 May 2026Bank submits notice of 30th Annual General Meeting — Bank of India filed the notice of its 30th AGM with the exchanges. source
29 May 2026Shares trade ex-dividend for Rs 4.65 per share — Yahoo Finance's price history records a Rs 4.65 dividend with ex-date May 29, 2026. source
02 Jul 2026Bank publishes quarterly global business and advances update — The bank released its provisional business update for the quarter ended June 2026 (headline labelled Q1 on the exchange feed). source
What happened next (10 Jul 2026 → 09 Oct 2026)
Price went from ₹144.90 to ₹134.46 by 09 Oct 2026 (-7.2%) while the Nifty 50 moved -7.0% — underperforming by 0.2 points.
Highest ₹149.33 on 21 Jul 2026; lowest ₹126.73 on 01 Oct 2026.
S1 144.57: broken on a closing basis on 14 Jul 2026.
S2 136.77: broken on a closing basis on 28 Jul 2026.
R1 146.77: cleared on a closing basis on 20 Jul 2026.
R2 152.01: not cleared on a closing basis.
200-day SMA: price was below it at the snapshot and crossed above on 13 Jul 2026.
20 Jul 2026Board meeting called for July 24 to approve Q1 results — The bank scheduled its board meeting on July 24, 2026 to approve results for the quarter ended June 30, 2026, with an analyst call at 6:30 PM. source
24 Jul 2026Bank of India Q1 FY27 standalone profit rises 36% to Rs 3,068 crore — NII was Rs 6,833 crore, up 12.61%; gross NPA 1.81% and net NPA 0.51%; CRAR 18.69%; global advances up 18.64% and deposits up 14.90%. source
30 Jul 2026Bank raises one-year MCLR marginally — An exchange-feed headline reported a marginal increase in the bank's one-year MCLR. source
19 Aug 2026Shares ease for fifth straight session — The stock traded near Rs 142 on the NSE after five sessions of decline, per a market report. source
31 Aug 2026Bank revises one-year MCLR to 8.80% from September 1 — The bank set its one-year MCLR at 8.80 percent effective September 1, 2026. source
03 Sep 2026Shares rise for third straight session — The stock traded around Rs 144.9 on the NSE, extending a three-session gain, per a market report. source
Educational summary. On 10 Jul 2026 the technical picture leaned negative and the fundamental picture leaned positive. Over the next three months the stock moved -7.2% against -7.0% for the Nifty 50. Here the chart's message lined up with what followed. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Bank of India today.
Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.
Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 13 Oct 2026); index — Nifty 50, Nifty Bank via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction
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Investment & lending companyNSE: AIILData as of 10 Jul 2026