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Stock Radar: Symmetrical Triangle breakout makes RBL Bank stock an attractive buy; stock still down over 30% from highs
RBL Bank has given a breakout from a Symmetrical Triangle pattern on the daily charts, suggesting a possible upward movement.
Synopsis
RBL Bank Ltd demonstrated a breakout from a Symmetrical Triangle pattern according to daily charts. Experts suggest that short-term traders with a high risk profile may aim for a target range of Rs 190-200, as technical indicators imply a positive trend over the next 1-2 months.
RBL Bank Ltd, part of the private sector banking space, gave a breakout from a Symmetrical Triangle pattern on the daily charts which has opened room for the stock to head higher.Short-term traders with a high risk profile can look to buy stock for a possible bounce back towards Rs 190-200 levels in the next 1-2 months, suggest experts.The private banking stock hit a high of Rs 272 on May 3, 2024 but it failed to hold the momentum. The stock
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