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Published on 18/06/2019 4:15:19 PM | Source: Choice Broking Pvt Ltd

Buy Bandhan Bank Ltd For Target Rs. 593 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #Trading Report # Bandhan Bank #Choice Broking

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* On a daily scale, the stock has bounced from its multiple support line which suggests a bounce back move in the counter.

* On a daily scale, the stock has given a breakout of its falling trend line which suggests a robust upside movement in the counter.

* Additionally, the stock is sustaining above its 100 Days Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 44.90 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

Recommendation

Buy Bandhan Bank Limited @ 553.00 Target 593.00 Stoploss 532.00

 


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