JM FINANCIALBUY only above 105. The script shows renewed uptrend both in short as well medium term. In medium-term 123 is a very crucial level. This script has seen some good accumulation coming at lower levels. In short term to medium price can inch from current levels to 123 levels. If the price crosses that with good volumes then we can expect a clear trend in the script and can move towards 170 levels. Stoploss @ 93
JMFINANCIL trade ideas
JMFIN - Ascending triangle in action!Scrip should manage to cross the crucial resistance levels marking new highs if breakout with higher volume surge is seen to complete and validate the ascending triangle pattern :)
Bullish strength affirmation
1) SMA - 15 SMA is above 200 SMA and Price range has gone below 15SMA so for now, there is strength in the scrip movement
2) Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon and is reinforced by high trading volumes however, high trading volume is yet to be seen as prior for reinforcement to be gained
3) Volume contract while the scrip is ascending in ascending triangle and bulls have managed to maintain their grip
Anticipating the scrip to reach target price after breakout
Call - 1.5 to 2 months
Sound fundamentals : www.screener.in
Pros:
- Company is expected to give good quarter
- Company has good consistent profit growth of 31.02% over 5 years
- Company has been maintaining a healthy dividend payout of 28.25%
Cons:
- Debt mounting although NBFC company has adequate Interest Coverage: ₹ 2.23
- Negative cash flow