Script Name: RBL Bank
Ticker Name: RBLBANK
Index: Bank Nifty
Included in Nifty Midcap 50

About the Company
RBL Bank or the Ratnakar Bank Ltd. is one of the fastest growing private sector banks of India with an expanding presence across the country. Founded in 1943, it currently serves more than 9.83 million customers through a network of 435 branches; 1,422 business correspondent branches (of which 271 are banking outlets) and 380 ATMs spread across 28 Indian states and Union Territories. The bank also won the BEST SMALL BANK award at the Business Today Financial Awards 2019.
Major financial indicators
Net Profit Margin: 6.18%; NIM: 3.76%
EPS: 9.35; ROE: 4.01
Book Value: 211.73

Analysis
This script is in upside trend since last 18 to 20 sessions after taking a crucial support of 156. It is currently trading in a channel as shown in the chart with next resistance around 200 levels. According to the Fibonacci retracement, the share may touch the level of 199.65 and 226.5 in short and medium term respectively. The script has recently crossed it's 20 DMA and may face a small resistance to cross 50 DMA but there should be a crossover of 13 EMA over 26 EMA in the next few sessions. Also, the RSI (14) for the script is around 61.35 level from low of 19 levels in just 18 to 20 sessions. which indicates a bullish trend. The script can be added at current levels and in dips till 172 with a stop loss of 156 on closing basis,
.The stock has 64,19,179 as 20D average volume with latest delivery percentage of 35.07% based on the last closing day.
At an underlying value of 183.5 and monthly expiry on 30th Sep 2021, call option contracts witnessed highest Open Interest and Volume at the strike price of 200 which will be a crucial level to watch in coming days. The second-highest contract volume is observed at a strike price of 180 which the script recently crossed with good volumes.. This stock sees crucial support at 173 with highest change of open interest at 170 strike price on put side indicating the support getting stronger.
Disclaimer: Investors / Traders are advised to independently evaluate the market conditions/risks involved before making any investment decision.
RBLBANK - 4730113