CREDITACC: Rebound from Key Support with Strong Volume Spike
Title: "CREDITACC: Rebound from Key Support with Strong Volume Spike – Target ₹1140"
Stock: CreditAccess Grameen Ltd. (CREDITACC)
Analysis:
CREDITACC is currently trading at a key support level, showing a sudden spike in volume after making a new 52-week low last week. Despite a challenging quarter, the stock’s fundamentals and institutional interest indicate potential for a rebound.
Key Highlights:
Promoter Holding: Strong at 66.5%.
Institutional Confidence: Significant FII and DII holdings underline trust in the company.
Fundamentals:
Fair Valuation: PEG at 0.30 and PE below the industry average.
QoQ Revenue Growth: Strong growth, though expenses have doubled, causing a 50% decline in net profit for the September quarter.
Technical Setup:
Volume Spike: A sudden increase in activity suggests potential accumulation.
Support Zone: The stock is holding critical levels, providing a solid base for a rebound.
Trade Plan:
Entry: At current levels near support, with confirmation of rebound.
Target: ₹1140 within a 6-month timeframe.
Stop Loss: Below ₹900 to limit downside risk.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
Stock: CreditAccess Grameen Ltd. (CREDITACC)
Analysis:
CREDITACC is currently trading at a key support level, showing a sudden spike in volume after making a new 52-week low last week. Despite a challenging quarter, the stock’s fundamentals and institutional interest indicate potential for a rebound.
Key Highlights:
Promoter Holding: Strong at 66.5%.
Institutional Confidence: Significant FII and DII holdings underline trust in the company.
Fundamentals:
Fair Valuation: PEG at 0.30 and PE below the industry average.
QoQ Revenue Growth: Strong growth, though expenses have doubled, causing a 50% decline in net profit for the September quarter.
Technical Setup:
Volume Spike: A sudden increase in activity suggests potential accumulation.
Support Zone: The stock is holding critical levels, providing a solid base for a rebound.
Trade Plan:
Entry: At current levels near support, with confirmation of rebound.
Target: ₹1140 within a 6-month timeframe.
Stop Loss: Below ₹900 to limit downside risk.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
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