The outlook is bullish for Bank of Maharashtra. This stock has been in a strong uptrend. After witnessing a corrective fall in February, the stock has now resumed its uptrend. The strong 4 per cent rise on Tuesday confirms the same. Strong support is in the ₹61-60 region. Cluster of moving averages are also poised in this region. That makes the chances less for the stock to decline below ₹60 going forward.
Bank of Maharashtra share price can rise to ₹75 over the next three-four weeks. Traders can go long now at around ₹64. Accumulate on dips at ₹61. Keep the stop-loss at ₹58 initially. Trail the stop-loss up to ₹66 as soon as the stock moves up to ₹68. Move the stop-loss further up to ₹69 when the price touches ₹71. Exit the stock at ₹73.
Today’s Stock Recommendation: 6th March 2024
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)