Buy Bandhan Bank around Rs 425, says Shabbir Kayyumi

Daily momentum indicator RSI seems to be turning towards on northward side also creating positive rhythm in the scrip.

Bandhan Bank bottomed out near the levels of Rs 405-407 and has been consolidating for last few days on daily chart. Emergence of green candles near the support line on daily chart indicates up side movement in the coming sessions. Daily momentum indicator RSI seems to be turning towards on northward side also creating positive rhythm in the scrip.

Furthermore, bullish crossover in MACD adds the conviction of buying the scrip around Rs 425 for the target of Rs 460 with stop loss of Rs 404 marks.

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