Equitas Small Finance Bank has outperformed Nifty over the last week and month. The weekly gain is about 10 percent compared to 0.22 percent on Bank Nifty and 0.8 percent on the Nifty.

Daily trading volume has increased from being just Rs 2 crore as of May 17 to yesterday, May 26, Rs 19 crore. So, yesterday’s delivery volume was 36.4 percent.

Here’s a look at the key technical levels:

The stock is currently priced a bit under Rs 64 per share. It’s 6.5 percent shy of its 52 week high which is at Rs 68.25 per share.

The stock has witnessed a sharp rally posting a 15 percent gain month-on-month (MoM) compared to a 4.5 percent gain seen on the Nifty as well as a 5.8 percent gain seen on Bank Nifty.

Therefore, the stock has hit a new high on a closing basis, a further uptrend is likely and the immediate target could be around 52-week high level but one can’t rule out profit booking at such high levels.

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(Edited by : Ajay Vaishnav)