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Published on 29/10/2020 11:10:24 AM | Source: Motilal Oswal Financial Services Ltd

Sell Bandhan Bank Ltd For Target Rs. 270 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #Banking Sector #Trading Report # Bandhan Bank #Motilal Oswal Financial Services Ltd

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Technical Trading Idea

* Bandhan Bank took resistance of its Horizontal Line (around 330) and started correcting. It formed a Double Top pattern on intraday scale and moved below 50 DEMA. RSI oscillator is also moving southward and thus showing weakness in the counter. Looking at current chart structure, we are expecting the stock to correct towards 270 levels. Thus, we advise traders to look for shorting opportunities in its November Future on bounce with stop-loss of 303.

Sell Bandhan Bank Nov Fut Ltd @ 292-294 2-3 Days @ CMP 290 TGT 270 SL 303

 

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