RBL Bank has demonstrably forged a durable bottom at its recent swing low of 243. As long as that level is fiercely defended, the measured move target on the upside is an unyielding 306. Reaching this milestone will trigger a momentous breakout on its yearly charts, unleashing a massive, sustained rally for the medium term.
For the short term, the zone from 256 to 266 is an ironclad support band. Holding this fortress will allow the stock to easily obliterate its recent swing high of 279. Once that resistance is crushed, it will immediately surge toward 294 and 306.
On the time-cycle front, September 29th will be a pivotal and critical date.
From the Ashes: RBL Bank’s Resurgence and Imminent Surge
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