Syndicate Bank - Double Bottom

After being hammered since almost a month (June 13), looks like some buying interest is coming back to PSU banks.

I can see that Syndicate BankNSE:SYNDIBANK has formed a Double Bottom around 38.75 levels with a positive RSI divergence.

It seems that the stock is slowly moving towards the first target of 43.85.

Good opportunity for option writers here with a stop loss below 38.75.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.


Be careful here,as PSU Banks Index reversed today forming an Evening Star pattern. Would be good to exit longs or sold puts if any.

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