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Last Updated : Jan 30, 2019 11:50 AM IST | Source: Moneycontrol.com

Sell RBL Bank, target Rs 525: Shitij Gandhi

Traders can take a short position into the stock within a range of Rs 555-560 for the downside target of Rs 525 levels with stop loss above Rs 580.

Moneycontrol Contributor @moneycontrolcom
 
 
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Shitij Gandhi

From the last six weeks, RBL Bank has been consolidating in a range of Rs 590-560 levels and is trading well above its short and long-term moving averages.

But, this week, prices slid well below its consolidating range as stock gave a channel breakdown along with marginally higher volumes, which suggest short build up in prices.

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Traders can take a short position into the stock within a range of Rs 555-560 for the downside target of Rs 525 levels with stop loss above Rs 580.

The author is a Senior Research Analyst, SMC Global Securities Ltd.

Disclaimer: 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.
First Published on Jan 30, 2019 11:50 am
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