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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.

As long as the stock holds above this crucial support, a bounce back towards 980-1000 levels is possible, 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.

Medium to long-term investors can look to buy the stock now as it could well double from current levels in the next 1-2 years, suggest experts.

The stock has been trading in a rising channel since 2014-2015 on the monthly charts. It has always bounced back after retesting the lower trendline of the channel pattern.

The housing finance company recorded a breakout above 130 levels from a falling trendline resistance in July 2023 from where it witnessed a steep rally which took the stock towards 170 levels at the beginning of August.

The stock which is part of the S&P BSE Smallcap index rose from Rs 507 as on July 24, 2023, to Rs 558 recorded on August 24, 2023 which translates into an upside of about 10% in a month.

The stock witnessed a corrective phase after it touched a high of Rs 3860 on 2 May 2022. The stock underwent a period of consolidation and found support above Rs 2700 in December before bouncing back.

The stock witnessed some pressure above Rs 400 levels in June 2023 which pushed the stock towards Rs 370 in June 2023. The momentum helped the stock to climb above 50 and 200-DMA on the daily charts.