Trading calls by Osho Krishan of Anand Rathi: Buy RBL Bank, MGL

MGL is on a secular bull run since the formation of its run-away gap and is now comfortably placed above all the major exponential moving averages on the daily time frame

BUY RBL BANK | TARGET: Rs 232 | STOP LOSS: Rs 204

The stock has retraced 50 per cent on the Fibonacci retracement of the recent fall and is currently placed above all the major exponential moving averages on the daily chart. From the past couple of trading sessions, the stock is witnessing some consolidation that could be interpreted as the formation of a base before another set of rally. On the oscillator front, the counter is placed above the mean of the Bollinger band, indicating inherent strength and even the 21 DEMA is witnessing positive crossovers affirming the bullish setup.

BUY