Traders can accumulate the stock in a range of Rs 255-257 for the upside target of Rs 278 levels and a stop loss below Rs 240, says Shitij Gandhi of SMC Global Securities.
Indian Bank made a double bottom pattern around Rs 210 levels on the daily charts and bounced back towards 250 levels once again.
This week we have observed a fresh breakout of last three weeks consolidation along with a breakout above the ascending triangle pattern on daily charts.
Traders can accumulate the stock in a range of Rs 255-257 for the upside target of Rs 278 levels and a stop loss below Rs 240.Disclaimer: The author is a Senior Research Analyst, SMC Global Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.