The price action of AU Small Finance Bank Ltd is currently consolidating within a symmetrical triangle pattern on the weekly chart, with key Fibonacci levels in play. The stock has bounced off the 0.618 Fibonacci retracement level at ₹610.20, indicating potential bullish momentum.
1.618 Fibonacci Extension: ₹841.25 (~26.26% upside from current levels) Technical Outlook: The stock is showing a strong possibility of a breakout from the symmetrical triangle pattern, targeting the 1.618 Fibonacci extension level at ₹841.25. A sustained move above ₹700.55 (key resistance) will confirm the breakout and likely propel the stock towards the target zone.
Strategy:
Buy Zone: ₹660-₹670 Stop Loss: ₹640 (below the 0.618 level)