1/19/2024 0 Comments Moving average in trading![]() Profit after Tax (PAT) also rose by 30 per cent on a quarter-on-quarter basis. A moving average (MA) is a widely used technical indicator that smooths out price trends by filtering out the noise from random short-term price fluctuations. The private sector lender reported a 43.2 per cent rise in net profit to Rs 288 crore for the first quarter ended June 2023, helped by lower provisions and higher interest income. Retail advances grew 34 percent YoY and 8 percent sequentially, while wholesale advances grew 7 percent YoY and were flat sequentially for the quarter ended September 30, 2023. The lender reported total deposits at Rs 89,774 crore for the quarter ended September FY24, up 13 percent YoY and 5 percent QoQ, while gross advances rose 21 percent YoY & 5 percent QoQ to Rs 78,186 crore, respectively.ĬASA for the September quarter rose 12 percent YoY & 0.5 percent QoQ to Rs 32,075 crore. The lender logged a 13 percent rise in deposits to Rs 89,774 crore on a year-on-year (YoY) basis. RBL Bank shares are trading higher than the 10 day, 50 day, 100 day, 150 day and 200 day moving averages. In terms of technicals, the relative strength index (RSI) of RBL Bank stands at 58.5, signaling it's neither trading in the overbought nor in the oversold territory. The stock has a beta of 1.7, indicating high volatility in a year. The EMA reacts to price changes more quickly than the SMA by placing a higher weighting on the most recently observed stock prices. Market cap of the bank fell to Rs 14,883 crore on Friday. Two types of moving averages are the simple moving average (SMA) and the exponential moving average (EMA). ![]() Total 3.13 lakh shares of the firm changed hands amounting to a turnover of Rs 7.73 crore. Market cap of the bank climbed to Rs 14,883 crore on BSE. In the previous session, the RBL Bank stock ended 2.21% higher at Rs 247.50 against the previous close of Rs 242.15 on BSE. Double Exponential Moving Average - DEMA: A technical indicator developed by Patrick Mulloy that first appeared in the February, 1994 Technical Analysis of Stocks & Commodities. A daily close below support of Rs 243 could lead to target of Rs 218 in the near term." ![]() This strategy aligns with the technical analysis and prevailing market conditions, potentially presenting an attractive opportunity for traders and investors,” added Mehata.Ībhijeet from Tips2trades said, "RBL Bank has been bearish on the Daily charts with strong resistance at Rs 257. The Guppy Multiple Moving Average (GMMA) strategy was invented by Australian Daryl Guppy and consists of two distinct sets of EMAs plotted over the exchange rate on a chart. “It is advisable to consider buying on dips near the Rs 225 level with next targets set at Rs 280-300 in the short run. This combination of technical indicators suggests that RBL Bank may have the potential to reach a target price of Rs 300 in the near term,” said Mehata. Additionally, the Stochastic Relative Strength Index has recently experienced a positive crossover from the oversold region. The Relative Strength Index (RSI) is currently at 66.25 and trending upwards, indicating a growing buying momentum. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |