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Published on 12/10/2018 4:45:47 PM | Source: Choice Broking Pvt Ltd

Buy Karnataka Bank Ltd For Target Rs.111.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Karnataka Bank Ltd #Banking Sector #Trading Report #Choice Broking

*  On a Daily Chart, the stock is on the verge to give a break out of it’s upper band of Symmetrical Triangle which suggests reversal in the counter.

*  Moreover, the stock has confirmed the Hammer candlestick which is a reversal formation suggest a bounce back movement in the stock.

*  Furthermore, the stock has taken a strong support from it’s horizontal line which indicates a northward movement in the counter.

*  A daily momentum indicator RSI reading is at 45.80 level with a positive crossover which points out for a positive breadth.

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

 

Recommendation

Buy Karnataka Bank Ltd OCT Fut @ 101.50 Upto 101 Stoploss 97.50 Target 111

 

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