Short-term traders can look to buy the stock now or on marginal dips as the momentum remains strong which could take the stock towards 80 in the next 3 months, suggest experts. The public sector banking stock rose more than 25% in a week, over 30% in a month, over 50% in the last 3 months and over 100% in the last 6 months, Trendlyne data showed.
The breakout has opened room for the stock to head towards 350 levels which could take the stock to a fresh 52-week high in the next 4-6 weeks, suggest experts.
The stock hit a record high of 228.90 on 23 January 2015 but it failed to hold on to the momentum and witnessed a steep fall which took the stock towards 26 in May 2020.