Equitas SFB has broken out of a cup and handle pattern above 47-48 and post that, it is consolidating in a tight flag like pattern. Breakout from this pattern happens above 52. One can either buy now in the hope that a successful breakout happens above 52, or wait for actual breakout and then take a position. Targets for cup and handle breakout are 58. cmp 50. One can put appropriate stop loss.
A lot of these smaller public and private banks are showing bullish pattern breakouts. Some like karur vysya bank have more than doubled in last six months.
| Subscribe To Our Free Newsletter |
