There is an Ascending Triangle Pattern Breakout given by IBULHSGFIN on this Friday on weekly chart. So, I think we can see more upside levels on this counter.
First Targets :- 310
Second Target :- 360
Third Target :- 425
Stop loss as per risk appetite. Support is around 220.00
Sundaram Finance is a leading NBFC belonging to Sundar Group.
The stock has jumped to 2800 levels and then started retracing. Currently, it has got multiple rejections from the upper trend line and it is now ready to breakout.
Above 2500 level it can again go higher to 2800 level again.
All the levels are mentioned on the chart.
DISC: Please consult your...
1. Very good financial
2. No debt
3. Company entering into gold, silver & diamond jewellery loans
4.Currently operating in Maharashtra and now entering Gujarat and Rajasthan.
5. Credit rating of IVR BBB- with an outlook stable on its long-term bank facilities of Rs20cr by Infomerics Valuation & Rating Private Limited.
6. Experienced promoters, Comfortable Capital...
BSE:MEGACOR is currently undergoing correction and support areas are marked in the graph.
Its is a very risky penny stock. Beware!
Rising NBFC, Mega Corporation has normal fundamentals.
Should wait for stability to form in the company. Will get enough entry points in future when it becomes tradable.
The pair chart is suggesting a reversal in Relative Strength from this level as it takes support near a rising trend line, suggesting Bajaj Finserv will outperform Bajaj Finance from here onwards. As per this the spread could now resume its uptrend till 1.95 and then 2.10, view negates below 1.72
The introduction of the index into derivatives has come with a Bearish Alt Bat Harmonic pattern formed in Weekly Time Frame . A daily close below 15475 could lead to long unwinding that might make the index retest 15000 / 14000 . The view would be negated if it breaks above 15700 on hourly closing basis (after activating a down move)