The chart is showing clearly made "Head & Shoulder" reversal pattern and trading below the neckline. One can use it and short the stock at current level for the target of 116/111.5. RSI is also below 50 confirming the shorting decision. It offers a good Risk to Reward Ratio.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for...
PFC is on the way to form Double Top @ 138 levels.
Price is above all its moving averages and is in a bullish channel.
Currently stock is at the top of channel so a SELL.
Along with REC, PFC also could start its next leg up. Power seems to be a focus sector of this new government.
Both REC & PFC seem to be investment picks more than just trading picks.
RSI AND STOCHASTIC SEEN IN ONE DAY OVERBOUGHT ZONE AND DARK CLOUD COVER CANDLE FORMED ON 10/06/19 AND NIFTY ALSO FORMED DOWN TREND SO AS PER MY KNOWLEDGE PFC SEEMS TO GO DOWN UPTO TARGETS
TARGET 1 = 128
TARGET 2 = 122
TARGET 3 = 119
SHORT PFC
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
Power Finance Corporation Limited is a non-banking financial company engaged in business of financing companies. The Company's principal products/services include interest on loans and income from other services. The Company's principal business is to provide financial assistance to the power sector. Its fund-based financial policies/products include takeout financing, asset acquisition, bridge loan, buyer's line of credit, credit facility for purchase of power through power exchange, financing of fuel supply projects and equipment manufacturers, lease financing for purchase of equipments, lease financing for wind power projects and line of credit for import of coal. Its non-fund based financial policies/products include guarantee, letter of comfort and policy for guarantee for credit enhancement. The Company also provides consultancy and capital advisory services. Its subsidiaries include PFC Consulting Limited, PFC Green Energy Limited and PFC Capital Advisory Services Limited.
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PFC
![PFC: [POSITIONAL SHORT] Channel bet](https://s3.tradingview.com/s/S6MjkVUe_mid.png "[POSITIONAL SHORT] Channel bet")
