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Podcast: Today's Pick - Indian Bank

| Updated on October 17, 2019 Published on October 17, 2019

Investor with a contrarian view can buy the stock of Indian Bank at current levels. The stock jumped 7.8 accompanied by above average volume taking support in the band between ₹105 and ₹110. Both medium as well as short-term trends are down.

The stock breached key supports at ₹175 and ₹135 in the month of September. But, the significant long-term support in the band between ₹100 and ₹110 provided base this week.

The stock marked a 52-week low of ₹105 on Monday and began to move upwards triggered by positive divergence in the daily price rate of change indicator.

Published on October 17, 2019