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Bandhan Bank share price has been moving up gradually since mid-July this year. This uptrend is intact and strong. There is room left within the uptrend for the stock to move further higher before a correction sets in. Important supports are at ₹245 and ₹240. Moving average cross-overs on the daily chart strengthens the bullish case indicating that the downside could be limited. Immediate resistance is around ₹260.
A break above it will open the doors for Bandhan Bank share price to target ₹270 over the next two to three weeks. Traders can go long now. Accumulate on dips at ₹248 and ₹243. Keep the stop-loss at ₹237. Trail the stop-loss up to ₹257 as soon as the stock moves up to ₹262. Move the stop-loss further up to ₹261 when the price touches ₹265. Exit the long positions at ₹268.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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