The Banking sector has been presented strength post the latest Reserve Bank of India (RBI) policy announcement. Among the Banking stocks private sector banks like Axis Bank has been showing strength. Axis Bank has been showing signs of short covering since the start of the April F&O series.
Seeing the less covering by the stock market participants, we feel that the stock could breach the narrow range of 500-520 on the higher side. It has been trading in this range since the last few trading sessions. Therefore, to capture this move with a limited risk, we recommend a Bull Call Spread in Axis Bank. RBI News By TradeBizz Research
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