Stock Radar: Stock Radar: Up 22% in a month! This PSU bank gave breakout from triangle pattern; should you buy?
Synopsis
The PSU bank scrip is making a higher top and higher bottom formations on the weekly charts, suggesting momentum is intact. Bulls could take the stock to a fresh 52-week high in the next month, suggest experts.
Indian Bank has rallied over 20 per cent in a month, which helped the PSU stock to break above the Triangle pattern on daily charts and managed to reclaim its crucial 50 and 200-DMA earlier in July.
The stock rallied from Rs 145.85 on 22 June 2022 to Rs 178.35 on 22 July 2022, an upside of over 22 per cent.
The PSU bank scrip is making a higher top and higher bottom formations on the weekly charts, suggesting momentum is intact. Bulls could
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