Indian Bank & Equitas SFB Rally 4% on Bullish Technicals
- Share.Market
- 3 min read
- 16 Apr 2025
Shares of Indian Bank and Equitas Small Finance Bank Ltd. witnessed a notable uptick in today’s trade, both gaining 4% on the back of bullish technical indicators and renewed investor interest.
Indian Bank Sees Surge on Volume Spike
Indian Bank (CMP: ₹564), a prominent public sector lender, surged 4% by 01:00 PM today, supported by increased trading volume and strong technical signals. The stock is currently trading above its 10-day, 21-day, and 50-day moving averages, indicating sustained strength. Momentum indicators such as the MACD (Moving Average Convergence Divergence) and RSI (Relative Strength Index) are also flashing bullish cues.
The bank, known for its wide range of financial offerings including retail and MSME loans, digital banking services, and bancassurance products, has caught the attention of traders. Analysts are now keeping a close watch on the stock’s next move, with support pegged at ₹525.
Equitas Small Finance Bank Approaches Breakout
Meanwhile, Equitas Small Finance Bank Ltd. (CMP: ₹60) also rose 4%, attempting to breach resistance at its 50-day moving average. The stock appears to be coming out of a consolidation phase, with both RSI and MACD showing rising momentum—a sign that the stock may be on the verge of a technical breakout.
Specializing in micro-finance, vehicle loans, and small business lending, Equitas targets customers traditionally underserved by formal financial institutions, while continuing to build a robust digital banking platform. A stop loss is suggested at ₹55 as the stock looks poised for potential upward movement in the coming sessions.
Outlook
With both stocks displaying favorable setups, market participants are likely to monitor them closely in the near term. Continued strength in volumes and momentum indicators could drive further gains, provided broader market conditions remain supportive.
Disclaimer
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