So far this Small Banking stock has shot up by 20% and surprisingly this stock is a part of Bank Nifty
The stock of Au Small Finance Bank was under pressure recently due to uncertainty about its management and the uncertain economic situation.
However, after the reappointment of Mr. Sanjay Agarwal as MD & CEO of the bank for a period of three years, the stock saw a strong upward movement.
Take a look the Price Action Analysis of AU Small Finance Bank
AUBANK – Price Action Analysis on 5h Chart
After breaking the trend line at the level of 600-610, the share prices of AU Small Finance Bank shot up by almost 20%.
Well to learn how to trade such kind of breakouts without getting trapped in the market, have a look at the Video given below.
There are two possibilities for the stock price. Either the buying pressure will continue and push the stock price further upwards, or there will be a retracement back to the area of the price gap.
It is recommended that traders keep an eye on the price action and trade according to the market behavior.
What do you think will happen to AU Small Finance Bank? Leave your thoughts and predictions in comments…
