In the previous session, the market witnessed volatility throughout the day. The Nifty index rebounded at an important support level near 17850 level and recovered from its losses as the day progressed. A bullish candle appeared on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

 Look at the below research report of ‘Stocks to Buy for Friday, August 19, 2022’ before the market opens.

Bandhan Bank Ltd

On the daily chart, we can see that prices have formed an ‘Ascending Triangle Pattern’. Since a few trading sessions, prices are moving near the neckline of the pattern, which has now become an important key resistance line for the stock. Any break above 290 level will confirm the breakout. Prices are comfortably close near the Parabolic SAR which suggest a bullish trend is intact and we can expect upside momentum to continue from support levels. The Relative Strength Index (RSI) on the daily chart is 56.98; which indicates bullishness.

In short, BANDHAN BANK has continued to trade in the positive zone. Now a move above 290 will confirm the uptrend and open up gates for higher levels towards 300/310 level. As far as we do not see any closing below 275 on the lower side.

Check More Analysis on BANDHANBANK at: Bandhan Bank Ltd