Today it closed above the which suggests a reversal with bullishness in Banknifty .
If banknifty supports RBLbank can reach target within a week.
Once entry is done and in profit, better to hedge with 180 CE sell to maximize profit and hedge against your view.
With this hedge the protection will be till 163 as 180 CE is currently at 7.55
Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.