Short-Term Bounce In Indian Overseas Bank

Indian Overseas Bank has corrected in the recent weeks. It is offering a relatively low-risk buying opportunity for a rally to Rs.151.

Long positions may be considered with a stop loss at Rs.134. A breakout past Rs.151 could trigger a rally to the next target at Rs.157.

A breakout above Rs.165 would lend momentum to the uptrend and could signal the start of next leg of major uptrend.

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