E-Margin Positional Pick Buy CSB Bank Ltd For Target Rs. 343 - HDFC Securities
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E - margin Positional Pick Buy CSB Bank Ltd For Target Rs.343 - HDFC Securities
TECHNICAL OBSERVATIONS
The sharp trended decline of the last 5-6 weeks seems to have completed, as we observe a sustainable upmove in this banking stock (CSB Bank) from the lows.
The stock price has formed a bottom reversal at the support of ascending trend line at Rs 300 and is moving moved upside. This pattern could be considered as a bottom reversal.
The larger degree of higher bottomsis intact. Having formed a new higher bottom recently, the stock price is expected to move up from here.
Volume has started to expand with upmove in the stock price. Weekly 14 period RSI shows positive indication.
The overall chart pattern of CSB Bank indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy CSB Bank Ltd Up to 3 Months @ Add on dips 292 CMP 310.50 TGT 343 SL 281
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