Technical Positional Pick - Buy Indian Bank Ltd For Target Rs. 205 - HDFC Securities
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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