Hello All,
Today We will Talk about a Banking Stock.
The Stock is LAKSHMI VILAS BANK LTD.
Not Much is Limelight, The Stock Comes in News once in a year for some Good Investors Entry in the stock. Nothing Happens after that, Most of the Times, the Stock Performs Slowly and Silently.
Let's go to the Chart, Posting Only Monthly Chart
The Stock is seen trading in a Rising Channel, within a uptrend and now it is reversing to the channel supports. Also Marked is a Dark Blue Line, which acted as a Long Term Resistance in the Past, After Breakout from the resistance, the stock is reversing for the First time to retest the breakout level. Previous Strong Resistance will now act as a Strong Support for the stock. It is Supported by the Rising Trendline Support and Simultaneously the 50 & 89 SMA Acting at the same zone may support and The Zone from 90 to 98 will Act as a Multiple Supports Zone.
I am Expecting the Stock to Reverse from the Support and a Move Towards a New High will resume again. The Risk Reward in this Stock is Very Lucrative and Mouth Watering. One Can Go Long with a Small 5% Exposure of the Trading Capital.
Recommendation :
LAKSHMI VILAS BANK LTD.
Trade : BUY
CMP : 104
Buy Zone : 98-102-104
Stoploss : 90
Targets : 122 - 155 - 188 and above ...
Disclaimer :
The Analysis is done by a Globally recognized Technical Analyst, Global Market Expert and SEBI Certified Investment Adviser ATUL S SHINDE. He is Having 10 years of Experience in International as well as Indian Markets as an Analyst, Adviser and Fund Manager. The Stock may or May not be in his Personal Portfolio, But it is Recommended to his HNI Clients for Investment Purpose.
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