Buy RBL Bank on dips, exit Vimta Labs above Rs 130: Prakash Gaba

Name: Buy RBL Bank on dips, exit Vimta Labs above Rs 130: Prakash Gaba
Uploaded: 2017-06-09T16:17:40+05:30
Description: Prakash Gaba of prakashgaba.com is of the view that one can buy RBL Bank on dips and advises exiting Vimta Labs at around Rs 130.

Prakash Gaba of prakashgaba.com is of the view that one can buy RBL Bank on dips and advises exiting Vimta Labs at around Rs 130.

June 09, 2017 / 16:26 IST

Prakash Gaba of prakashgaba.com told CNBC-TV18, "RBL Bank at current prices is trading at support but ideal thing to do is to increase the timeframe and maybe we can see levels closer to around Rs 585-600 zones. The more you hold, the better it is for RBL because the basic structure is positive. The dips you get at, are buying opportunities and very strong support of RBL is around Rs 500; very strong support from a larger term perspective. So, it is a buy and hold stock."

"If Vimta Labs breaks Rs 115, one should be out. One must watch a level of Rs 124; once that goes, maybe we will see Rs 130 zones. Around Rs 130, I would like to exit," he added.

first published: Jun 9, 2017 04:17 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347