In the last few weeks i have maintained my strong bullish view on banks and quite a lot of them have given nice moves ( Vijaya Bank, Karnataka advised to clients).
After quite some time i have seen a strong technical formation which is a low risk high return trade. Dhanalaxmi Bank on trading above 156-157 should give a quick move to 178 in extreme short term.
Ideal time period would be 2-3 weeks on breakout with a price target being 10-12% and stoploss of 148. It can overshoot also.
Volumes have been high in the last two sessions indicating accumulation.
Disclosure: Have recommended the stock in all our schemes at 145-148 levels.
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