The private banking stock peaked at Rs 1,361 on September 20, 2024, but lost momentum, slipping below key short-term moving averages. However, it found support above the 100-DMA in November. From its November lows, the stock rallied nearly 10%, climbing from Rs 1,107 on June 13, 2024, to Rs 1,344 on December 13, marking a 21% gain over six months. This rally enabled the stock to reclaim most short-term moving averages in December, signalling bullish strength.
Kshitij Anand is the Editor - Markets at Daily Research Plot. He specializes in finance, trading, and financial markets, with a keen focus on topics such as markets, mergers and acquisitions, IPOs, FinTech, and insurance. Kshitij's insights and analyses have been featured in prominent publications including Share Market Updates and The Economic Times.