$POLICYBZR- Crossed IPO high of 1470
- strong closing
- Good consolidation before breakout
- Now in Institutional advance phase
- typical Cup & Handle
Notice the HV1 on 31/5/24 with gapup post which the story changed
Pbfintech
PB Fintech at ATHNSE:POLICYBZR has crossed its listing price and has entered a new All Time High zone. Stocks that do this normally start their new journey from these levels. It went through a long correction that came in because of the over-valuation but the company has walked the talk and has delivered on fundamentals. This hence, looks like a structural move in the chart as well and I do expect a good follow-up going ahead. Stop Loss at 1450 should act well here. Go Long.
POLICY BAZAAR - MID TERM ANALYSIS - 2nd June #stocksPOLICY BAZAAR (1M TF) - MID TERM Trade Analysis given on 2nd June, 2024
Pattern: ROUNDING BOTTOM
- Monthly Volume Buildup at Resistance - Done ✓
- Monthly Resistance Breakout - In Progress
- Demand Zone Retest & Consolidation - In Progress
Please Note:
- The stock is about 14% away from the IPO Levels
- Will look at a partial entry and then pyramid into if it moves in my direction
- SL will be paramount since its a risky trade
* Disclaimer
Policybazar-A rounding bottom pattern of ATH breakoutPolicybazar has formed a beautiful rounding bottom pattern and is now looking strong for a strong bullish trend.
Stock belongs to new age startup category and investing has more risk associated compared to bluechip stocks.
ATH breakouts are usually explosive and can be considered for quick swing trade as well.A similar pattern was observed in Zomato and stock has given good returns since then.
Idea is just my personal opinion and not a recommendation.
PB FINTECH - POLICYBAZAARPB Fintech Ltd, popularly known as Policy Bazar is India’s largest online platform for insurance and lending products through its flagship brands - Policybazaar and Paisabazaar platform through which they provide convenient access to insurance, credit and other financial products.
Overall business: Revenue grew 2.4x in 2 years
Consolidated Revenue grew 43% YoY to ₹871 Cr
Core Online Revenue grew 39% YoY to ₹593 Cr
Lending Disbursal is at an ARR of ₹14,321 Cr
Credit cards issued at an ARR of 5.6 Lacs
PAT improved by ₹482 Cr YoY to ₹4 Cr (YTD)
Cash position improved by ₹204 Cr YoY to ₹5,150 Cr
34% of incremental revenue translated to EBITDA
Adjusted EBITDA consistently growing over ₹ 50Cr per quarter YoY
India continues to have one of the widest protection gaps
66% of Health expenditure is Out-of-Pocket: Big opportunity for Health insurance
Only 3% Life Coverage: Big opportunity for Term Insurance
The future is in Tier 2 & 3 cities
