The short-term outlook of Equitas Small Finance Bank (SFB) is bullish. The stock had surged 5.6 per cent on Monday. Prior to this rise, the stock had seen a sideways consolidation all through last week. Strong support is now in the ₹60-₹58 region. A break below this support zone in less likely. Immediate resistance is at ₹65.
A strong break above it can take the Equitas SFB stock price higher to ₹73 over the next three-four weeks. Traders can go long now and also accumulate at ₹60. Keep the stop-loss at ₹57. Trail the stop-loss up to ₹64 as soon as the stock moves up to ₹66. Move the stop-loss further up to ₹67 when the stock touches ₹69. Exit the stock at ₹71.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)