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Published on 26/04/2019 10:58:22 AM | Source: Choice Broking Pvt Ltd

Buy AU Small Finance Bank Ltd For The Target Rs.680 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #Trading Report #Au Small Finance Bank Ltd #Choice Broking

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* On a daily chart, the stock has given a breakout of its Symmetrical Triangle formation which indicates a robust upside movement in the counter.

* Moreover, the stock has started to trade above its 200 Days Moving Average which is placed at 607.70 level which shows a positive rhythm in the counter.

* On a weekly chart, the stock has formed a Bullish Piercing candlestick formation which is a bullish reversal formation which suggests a bullish move in the counter.

* A daily momentum indicator RSI reading is at 64.22 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy AU Small Finance Bank Limited @ 618.90-625.10 SL 598.00 TGT 680.00 CMP 625.10

 

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