2 Banking Stocks Where Prabhudas Lilladher Has A Technical Buy Call

Broking firm, Prabhudas Lilladher has recommended buying the stocks of Bandhan Bank and Indian Bank in its latest technicals report.

Bandhan Bank: Buy with a target price of Rs 270

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd has a target of Rs 270 on the stock of Bandhan Bank with a stop loss of Rs 230.

Bandhan Bank: Current market price: Rs 242, Target, Rs 270, stop loss Rs 230.

"The stock after a decent correction has made a higher bottom formation with the support lying strong at around 230 levels. The RSI indicator has reversed its trend on the positive side signaling a buy and also with good volume participation, we anticipate the stock to move on further till 270 level. We recommend a Buy keeping a stop loss of 230 for an upside target of 270," Parekh has said in a technicals report.

Buy Indian Bank with a target price of Rs 270

According to Parekh, the stock of Indian Bank has been in consolidation for quite some time at around 270 - 285 levels and now it has given a spurt with a positive candle pattern accompanied with good volume. "A decisive breach above 288 would indicate a breakout and can anticipate for further rise. The RSI indicator has also made a trend reversal with a buy signal. We recommend this stock to buy for an upside target of 320 keeping a stop loss of 270," she has stated.

Disclaimer

The above recommendations are picked from the report of Prabhudas Lilladher and is not a recommendation of either the author, nor Greynium Information Technologies. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.