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The upmove in RBL Bank is gaining strength. The stock surged over 7 per cent on Wednesday after a tight consolidation between ₹210 and ₹230. The rise indicates the beginning of a new leg of upmove. Strong support for the stock is in the ₹210-208 region. Intermediate dips are likely to get fresh buyers at lower levels. A fall breaking below the ₹210-208 support zone is unlikely.
RBL Bank share price can rise to ₹280 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹228. Keep the stop-loss at ₹207. Trail the stop-loss up to ₹243 as soon as the stock moves up to ₹255. Move the stop-loss further up to ₹263 when the price touches ₹272. Exit the long positions at ₹278.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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