Bandhan Bank, RBL Bank Stocks See Strong Bullish Breakout: SEBI RA Dhwani Patel

Both stocks are trading well above the major exponential moving averages

Shares of Bandhan Bank (BANDHANBNK.NSE) and RBL Bank (RBLBANK.NSE) surged over 5% in Monday’s trade, indicating a strong bullish breakout, according to SEBI-registered analyst Dhwani Patel.

Bandhan Bank

Patel highlighted that the stock is trading above all major exponential moving averages (EMA) — the 20-day (₹169.51), 50-day (₹163.44), and 200-day (₹167.92) — indicating a clear uptrend.

The stock closed 7.3% higher at ₹186.10 on Monday, its highest intra-day percentage gain in nearly six months.

Patel said that its gains are comfortably above the key Fibonacci resistance at 61.8% (₹182.07).

He added that the spike in volumes traded indicated strong buyer interest.

The analyst also said that the Directional Movement Index (DMI) supports the stock’s bullish bias with a high average Directional Index (ADX) of 27.16.

Its positive directional indicator (+DI) is at 39.07, compared to the negative directional indicator (-DI) at 12.42.

Patel noted that the stock’s next resistance is near ₹196.73, while support can be seen at ₹171 - ₹175 levels on any pullback. Momentum favors further upside if the volumes sustain.

Retail sentiment on Stocktwits was ‘bullish’, accompanied by ‘high’ message volumes.

RBL Bank

Patel observed that RBL Bank (RBLBANK) has staged a solid bullish breakout, jumping over 5% and comfortably trading above key moving averages.

Its 20-EMA is at ₹210.52, 50-day EMA at ₹198.55, and 200-day EMA at ₹190.72.

RBL Bank shares rose 5.3% to ₹229.05 at Monday’s close.

Patel noted that the rise in trading volumes, along with the price uptick, reflects strong investor participation in driving the stock rally.

The analyst observed that the stock’s DMI indicator points to a strengthening uptrend, with an ADX of 27.56 and a significant gap between the +DI (29.35) and -DI (10.20), highlighting a clear bullish momentum.

Patel concluded that a strong breakout above previous highs could lead to a potential rally toward the ₹245–₹250 range, while immediate support at ₹210–₹215 could provide attractive pullback entry opportunities.

Investor sentiment on Stocktwits was ‘neutral’ amid ‘high’ message volumes.

The Nifty Bank index (NIFTYBANK.NSE) has gained over 1.8% after the Reserve Bank of India cut repo rates by 50 basis points on Friday, June 6, from 6% to 5.50%.

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