Trading Strategies in Bandhan Bank, Eris Lifesciences by Mehul Kothari

According to the technical analyst from Anand Rathi, Bandhan Bank can be shorted for a price target of Rs 272, while Eris Lifesciences can be bought for a target of Rs 800.

SELL

Bandhan Bank

Sell Near: Rs 263

Target: Rs 242

Stop Loss: Rs 272

In the previous week, we witnessed a major breakdown in Bandhan Bank below Rs 270-mark. The price action was supported with heavy volumes even in the cash segment. The stock has bounced back and now it is further more lucrative to go short. Thus, we advise traders to sell the stock near Rs 263 for a target of Rs 242 in the coming sessions.

BUY

Eris Lifesciences

Buy Near: Rs 720

Target: Rs 800

Stop Loss: Rs 680

The stock Eris Lifesciences has finally managed to confirm a range breakout above Rs 720 after May 2022. The price action is supported with rising volumes. The weekly and monthly RSI are about to cross 60 value and that might increase the strength of Eris. Thus, we advise traders to buy the stock near Rs 720 for a target of Rs 800 in the coming sessions.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).