Published on 13/09/2017 4:19:28 PM | Source: Choice Broking

Buy Power Finance Corporation Ltd For Target Rs.136.50 - Choice Broking

Posted in Broking Firm Views - Short Term Report | #NBFC #Power Finance Corporation Ltd #Trading Report #Choice Broking


* On an hourly chart, the stock has started to trade as per the momentum triple pattern theory which signifies a bullish sentiment in the counter.

* Moreover, the stock has given a breakout of the upper band of its upward rising channel formation which suggests a further upside movement in the counter.

* On a daily chart, the stock has breached above the 100 days exponential moving average with above average volume which may lead the stock to move in a northward direction.

* A daily momentum indicator RSI reading is at 62.19 level, heading towards the overbought zone which points out for a positive breath in the stock.

* Based on above technical structure, we are expecting a good upside movement in the counter in few trading session.

 

Recommendation

Buy Power Finance Corporation  Ltd @ 129.50-130.40 StopLoss 126.50 Target 136.50

 

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