Weekly breakout in Dhanlaxmi bank

The stock has given a weekly close above 16 (blue horizontal line) for the first time after over 20 months.

The stock is also on course to breakout above the resistance trendline (red trendline) which is over 2 years old.

The move is accompanied by decent volumes and should most likely lead to higher prices in the short to medium term

Buy Dhanlaxmi Bank with an initial target of 19-21 with a DCB stoploss of 14.8