01-01-1970 12:00 AM | Source: HDFC Securities Ltd
Technical Positional Pick - Buy Indian Bank Ltd For Target Rs. 205 - HDFC Securities
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Technical Positional Pick - Buy Indian Bank Ltd For Target Rs. 205 - HDFC Securities

TECHNICAL OBSERVATIONS

Stock has broken out from ascending triangle on the weekly charts

Stock price has shown throwback towards previous breakout levels, which can resume primary uptrend after running correction

Nifty PSU Bank Index has broken out from medium term downward sloping trend line on the weekly charts

Stock price has surpassed the previous two tops on the weekly chart

Price breakout is accompanied by higher volumes

Primary trend of the stock has been bullish with higher tops and higher bottoms

Stock has been holding levels above its medium to long term moving averages

Buy Indian Bank Ltd Up to 3 Months @ Average level 158 CMP 168.85 TGT 205 SL 151 

 

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