Breakout in CSL Finance Ltd with very high volume...............
symbol cslfinance company csl finance ltd. type long term & swing trade price 490.5 date of entry 01-02-2024 risk market slowdown
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After breaking out of the previous all time high level of 307 it went into the consolidation of 13 weeks and finally showing strength and closed this week with almost 9% gains. Ideally shall wait for it to close and sustain above 350 levels. It has broke out and re-tested those levels and showed strength thereafter. Stock is trading above all its key moving...
🔹 Technicals: ▸ Base formation followed by a high volume shakeout breakout ▸ Shakeout was followed by a good recovery and the price moved nearly 23% from the low of the shakeout ▸ Price has reclaimed the base and may possibly consolidate before moving towards the ATH ▸ If the price moves out of the base, 400 can be seen as a reasonable target in the short-term ...
The Indian NBFC sector has witnessed exponential pace of growth in the past 5 years. This can be attributed to the growing demand for alternate sources of demand from small and medium enterprises on one hand and dismal financial prudence displayed by public Banks. Even though the SME sector is still reeling under a steep credit deficit of $50 billion owing to...