Is Bank of India continuing its anti-investor run?

Bank of India is going through it's sixth anniversary of being an anti-investor stock. But you do still hear Indian investors holding & enquiring about the stock. This is because there's a perception in the country's investors that banking stocks & banks in India are a safe bet. Though this is not entirely false in the historical context that banks & their deposits have been protected in the country. But from an investment point of view, this is simply similar to putting your money under a mattress or inside a shoe & forgetting about it, this generates no returns.

The stock has been on a down trend since 2011 & this can be easily spotted on the weekly chart below as illustrated. The stock did show a false trend (as marked in the chart below) during early 2014, while also indicating a failure in trend immediately hence any up move was set to be unstable & fail.

But as with any falling stock it tickles an investors curiosity, as to when it will be an opportunity worthy of profiting from. The following are the supports & resistances on the stock (also marked in the daily chart above) :

Resistances : 157, 140, 118, 107
Supports : 91

The stock has major resistances at 157 & 140, whereas immediate minor resistances at 118 & 107. As of now there seems to be no promising scenario of a price improvement in the stock. The charts show no base formation hence any sudden moves will result in a reversal soon. The supports for the stock are also weak, with a support at 91 which only offers short term respite. From an investor perspective the stock is in a large bear move languishing at it's prices of 2005 & also showing no signs so far of stopping.