Power Finance Corporation Ltd - Breakout Opportunity
Date: 12-Jun-2024
Rating: Buy - Positional Trade
LTP: Rs. 492.05
Targets: (1) Rs. 559 --> (2) Rs. 660
SL: Rs. 442 on daily close basis
Technical View:
•
PFC is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 559 on 3-Jun-2024, it has retraced 29% to 395.20 level.
• On 12-Jun-2024,PFC has broke out from its secondary down trend with high volume.
• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 54.79 and MACD is trading at 11.77.
• Looking good to start a new swing from here.
• All the above observations are noted in Daily Timeframe.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 492.05
Targets: (1) Rs. 559 --> (2) Rs. 660
SL: Rs. 442 on daily close basis
Technical View:
•
PFC is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 559 on 3-Jun-2024, it has retraced 29% to 395.20 level.
• On 12-Jun-2024,
PFC has broke out from its secondary down trend with high volume.• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 54.79 and MACD is trading at 11.77.
• Looking good to start a new swing from here.
• All the above observations are noted in Daily Timeframe.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Nota
3-Jul-2024-------------
LTP: Rs. 531.05
8% up from suggested level.
Nota
8-Jul-2024-------------
LTP: Rs. 549.75
1st target of 559 reached. 12% up from suggested level.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.