Investors with a high-risk appetite can buy the stock of RBL Bank at current levels. The stock jumped 8 per cent accompanied by above average volume on Tuesday, breaching a key resistance at around ₹120.
In early March, the stock breached a significant support at ₹250 and continued to trend downwards. It has been in a medium-term downtrend over the past two months. But the stock recorded a 52-week low at ₹101 last week and found support.
Subsequently, the stock changed direction triggered by positive divergence on the daily relative strength index and the daily price rate of change indicator.