Buy Indian Bank, target Rs 465: Aditya Agarwala
Buy Indian Bank at a price target of Rs 465.0 and a stop loss at Rs 358 from entry point.
By ETMarkets.com |
Aditya Agarwala of YES Securities has a buy call on Indian Bank with a target price of Rs 465.
The current market price of Indian Bank is Rs 370.15.
Time period given by the analyst is one month when Indian Bank price can reach defined target.
Aditya Agarwala recommended to keep a stop loss at Rs 358.
"On the weekly chart, Indian Bank (INDIANB) is on the verge of a breakout from a channel resistance placed at 386. Breakout on good volumes can resume the uptrend. RSI has turned upwards from the 60 level affirming the strength dominant in the stock. On the daily chart, it has broken out of a consolidation channel affirming bullishness. Stock can be bought in the range of 381-383 for targets of 421-465, keeping a stop loss below 358," the analyst said in a report.
The current market price of Indian Bank is Rs 370.15.
Time period given by the analyst is one month when Indian Bank price can reach defined target.
Aditya Agarwala recommended to keep a stop loss at Rs 358.
"On the weekly chart, Indian Bank (INDIANB) is on the verge of a breakout from a channel resistance placed at 386. Breakout on good volumes can resume the uptrend. RSI has turned upwards from the 60 level affirming the strength dominant in the stock. On the daily chart, it has broken out of a consolidation channel affirming bullishness. Stock can be bought in the range of 381-383 for targets of 421-465, keeping a stop loss below 358," the analyst said in a report.
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