Fundamentals:
* ROCE - 9.2%, ROE - 14.2%. Debt to Equity - 4.5 (Financial companies use debt as their inventory)
* EPS / Revenue - has been steadily increasing
* FIIs - Have marginally increased holding from 18.42% to 18.61% which it is high.
* Retail holding levels have gone down marginally
* Promoter holding has remained steady mostly
* Domestic instituitions have reduced stake
Technicals:
* Price is consolidating and forming a triangle pattern
* Volumes have subsided indicating silent accumulation by Instituitions
* RVOL is just near 100%, and last two sessions the volume indicates increase in trading
* Relative strength is strong / Momentum indicates steady maintenance / ADR is 4.4% and indicating up move
* Weekly chart shows clear signs of consolidation and a potential double bottom move.
* In weekly chart we can see that the stock is trying to consolidate and the 10 WEMA is trying to cross above 20 WEMA
* Price has remained stuck at 23.2% fibo and now trying to move up.
The stock is not that fundamentally sound compared to its peers. However, it is presently giving a very tight entry opportunity.
Additionally, the CNX Finance / Nifty Bank / Nifty PSU Bank are showing strength.
In this market of gloom, that is the only sector which is trying to shine.
Note - Entry / SL / Target / Position size - Please figure out on your own based on risk appetite
Disclaimer - Your money requires your due diligence! I merely analyze and bring out probabilities. All the best.
* ROCE - 9.2%, ROE - 14.2%. Debt to Equity - 4.5 (Financial companies use debt as their inventory)
* EPS / Revenue - has been steadily increasing
* FIIs - Have marginally increased holding from 18.42% to 18.61% which it is high.
* Retail holding levels have gone down marginally
* Promoter holding has remained steady mostly
* Domestic instituitions have reduced stake
Technicals:
* Price is consolidating and forming a triangle pattern
* Volumes have subsided indicating silent accumulation by Instituitions
* RVOL is just near 100%, and last two sessions the volume indicates increase in trading
* Relative strength is strong / Momentum indicates steady maintenance / ADR is 4.4% and indicating up move
* Weekly chart shows clear signs of consolidation and a potential double bottom move.
* In weekly chart we can see that the stock is trying to consolidate and the 10 WEMA is trying to cross above 20 WEMA
* Price has remained stuck at 23.2% fibo and now trying to move up.
The stock is not that fundamentally sound compared to its peers. However, it is presently giving a very tight entry opportunity.
Additionally, the CNX Finance / Nifty Bank / Nifty PSU Bank are showing strength.
In this market of gloom, that is the only sector which is trying to shine.
Note - Entry / SL / Target / Position size - Please figure out on your own based on risk appetite
Disclaimer - Your money requires your due diligence! I merely analyze and bring out probabilities. All the best.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.