IndusInd Bank may touch Rs 970: Rahul Mohindar

Rahul Mohindar of viratechindia.com told CNBC-TV18, "We definitely like IndusInd Bank from a long-term. It has been an outperformer, a much favoured stock within banking and we continue to believe that you will see sustained outperformance. It has respected its 200-day moving average (DMA) more than once or twice in the last couple of weeks and one can see that there is a consistency building up."He further added,. "The last five days very range bound, it has been between Rs 930 and Rs 950 and I am trying to use a stoploss below that Rs 930 level and take a long position.""We believe Rs 970 is going to come in into very near-term but maybe in a couple of weeks you will see this move to new and immediate highs to about Rs 1,020. So we are looking at strength to strength on this one with a clear stoploss at Rs 927," he said.