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BUY RBL BANK | TARGET: Rs 232 | STOP LOSS: Rs 204
The stock has retraced 50 per cent on the Fibonacci retracement of the recent fall and is currently placed above all the major exponential moving averages on the daily chart. From the past couple of trading sessions, the stock is witnessing some consolidation that could be interpreted as the formation of a base before another set of rally. On the oscillator front, the counter is placed above the mean of the Bollinger band, indicating inherent strength and even the 21 DEMA is witnessing positive crossovers affirming the bullish setup.
BUY
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