A turnaround quarterly result has come at a time that the 50DEMA is about to overcome the 200DEMA with an INHS price breakout coinciding with the results announcement... It can do well in the days to come.. as the price has moved much higher than BO level one can keep SL of 164 and go long here for target of 215 ... there also remains a merger arbitrage in favor of Ujjivan Financial Services as per the share swap ratio declared by the board.. one more quarter of turnaround results is perhaps needed for upswing momentum to continue... but at share price below book value and merger arbitrage as well as turnaround results expectation this is as good as one can get for odds to be in their favor
Trade closed: target reached