|Sell Range||20.7 – 20|
|Target||17.9 – 17.5|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||10 – 12%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|19.9||SELL||20.7 – 20||17.9 – 17.5||21||15 – 20 Trading Sessions||10 – 12%|
# CMP on Sep 03, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 19.
^ The returns are calculated based on CMP#
Andhra Bank offers deposit products, including savings and current accounts, term deposits, housing loans, educational loans, personal loans, national savings certificates, life insurance products and other financial services. The company also provides working capital finance, bank guarantees, letters of credit etc. In Q1FY20 the company’s net interest income was improved by 9.6% to Rs.1,650 crore.
|Sectoral Index||Nifty Bank|
TECHNICAL OBSERVATIONS (DAILY)
- The share price of Andhra Bank has been in a downtrend since last few months.
- Today’s close is just below the steady resistance line which is moving downwards along with price fall and based on historical price pattern we are expecting price to go down from here.
- Any reactive pullback might be temporary and also indicating an opportunity to go Short as per the levels mentioned in the recommendation box.