Moneycontrol
Last Updated : Jan 28, 2019 12:38 PM IST | Source: Moneycontrol.com

Buy Bandhan Bank around Rs 425, says Shabbir Kayyumi

Daily momentum indicator RSI seems to be turning towards on northward side also creating positive rhythm in the scrip.

Moneycontrol Contributor @moneycontrolcom
 
 
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Shabbir Kayyumi

Bandhan Bank bottomed out near the levels of Rs 405-407 and has been consolidating for last few days on daily chart. Emergence of green candles near the support line on daily chart indicates up side movement in the coming sessions. Daily momentum indicator RSI seems to be turning towards on northward side also creating positive rhythm in the scrip.

Furthermore, bullish crossover in MACD adds the conviction of buying the scrip around Rs 425 for the target of Rs 460 with stop loss of Rs 404 marks.

Disclaimer: The views and investment tips expressed by investment expert 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 28, 2019 12:38 pm
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