Buy RBL Bank, target Rs 640: Nandish Shah

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We recommend buying RBL Bank for the upside target of 640, and keeping a stop loss below at Rs 565, says Nandish Shah of HDFC Securities.

RBL Bank has given a symmetrical triangle breakout on the daily charts on Monday, indicating a continuation of an uptrend. The stock price has also broken out from the downward sloping trend line, adjoining previous two weekly tops.


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Volumes have been rising along with the price rise for the last four sessions. The stock price has been trading above 20, 50,100 and 200-DMA indicating the stock is in a strong uptrend.

Indicators like MACD and ADX have turned bullish on the daily and weekly charts. Therefore, we recommend buying RBL Bank for the upside target of 640, and keeping a stop loss below at Rs 565.

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Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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