Bandhan Bank’s share price has gradually risen since mid-July this year. This uptrend is complete and strong. There is still room for further gains in the uptrend before a correction begins. Important support levels are Rs 245 and Rs 240. A moving average crossover on the daily chart reinforces the bullish case, suggesting downside may be limited. Immediate resistance is around Rs 260.
A move above this level would open the door for Bandhan Bank share price to reach a target of Rs 270 in the next two to three weeks. Traders can go long now. Buy on dips at Rs 248 and Rs 243. Keep stop loss at Rs 237. Once the stock price rises to Rs 262, raise the stop loss to Rs 257. When the price touches Rs 265, move the stop loss further upward to Rs 261. Exit the long position at Rs 268.
(Note: The recommendation is based on technical analysis, and there is a risk of loss in trading.)
