Equitas Small Finance Bank has finally broken out of a prolonged consolidation phase after spending nearly two years building a strong base. The stock has reclaimed the ₹75–76 resistance zone with a decisive bullish candle, indicating that buyers have regained control.
The trend has clearly shifted in favor of the bulls. Price is trading comfortably above the 10-week and 20-week moving averages, with both averages turning higher. This alignment typically signals the beginning of a sustainable uptrend rather than a short-term bounce.
One of the biggest positives on the chart is the volume expansion. The breakout has been accompanied by significantly higher-than-average volumes, suggesting institutional participation rather than retail-driven buying. Breakouts supported by strong volume tend to have a higher probability of continuation.
Momentum is also strengthening. The RSI has moved above 65 without entering an extreme overbought zone, which indicates healthy buying pressure while still leaving room for further upside.
Trade Setup
Breakout Level: ₹75–76
Buy Zone: ₹77–80 on dips or consolidation above the breakout
Stop Loss: ₹72 (weekly closing basis)
Targets: ₹90, followed by ₹100–105 over the medium term
The ideal strategy is not to chase a sharp rally but to accumulate on pullbacks as long as the stock holds above the breakout zone. A successful retest of ₹75–76 would further strengthen the bullish structure.
The trend has clearly shifted in favor of the bulls. Price is trading comfortably above the 10-week and 20-week moving averages, with both averages turning higher. This alignment typically signals the beginning of a sustainable uptrend rather than a short-term bounce.
One of the biggest positives on the chart is the volume expansion. The breakout has been accompanied by significantly higher-than-average volumes, suggesting institutional participation rather than retail-driven buying. Breakouts supported by strong volume tend to have a higher probability of continuation.
Momentum is also strengthening. The RSI has moved above 65 without entering an extreme overbought zone, which indicates healthy buying pressure while still leaving room for further upside.
Trade Setup
Breakout Level: ₹75–76
Buy Zone: ₹77–80 on dips or consolidation above the breakout
Stop Loss: ₹72 (weekly closing basis)
Targets: ₹90, followed by ₹100–105 over the medium term
The ideal strategy is not to chase a sharp rally but to accumulate on pullbacks as long as the stock holds above the breakout zone. A successful retest of ₹75–76 would further strengthen the bullish structure.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.