Strong candidate for 2x the CMP. The stock has recently taken support over its previous hight o continue an upward journey.
technically : formed a Cup and handle pattern and a Flag pattern breakout.
Indian Bank is currently trading at half of its Book Value of 360 and at a P/E of 5.85.
it has recently brokeout after formation of Inverse Head and Shoulder pattern and once achieving its targets it will reach its old resistance that forms the CUP with a depth of over 371 points (2x its existing price) which might lead to price to 750+
This is not a BUY or Sell...
Look at INDIAN BANK, giving a strong momentum after recent breakout after formation on inverse Head and Shoulder.
This is my very first post here, i am open to learn if I am not doing it right. Show some support.