Currently in accumulation zone. Once breaks out of the upper zone, this will move up sharply. Not much liquidity, as government and LIC already holds 95% of holding. Impending stake sale is the key trigger. Stake sale price will determine the movement. Fundamentally too, currently the share price looks undervalued and not demanding.
Need to sustain above 125 for breakout. Strong promoter (DXC - MNC Promoter), low public float, no debt, Cash and cash equivalents of more than 400cr for a 1200cr market cap company.
Company recently announced TATA Sons as the promoter. Open offer formality is complete, i guess they wouldn't have got much shares in open offer as market rate is much higher. Let's see how this goes.
The stock is not only technically looking good, fundamentally too, it is very undervalued compared to its private sector peers. Valuation will catch up in the long-term as this is the biggest General (Non-life) insurer.
Technically looking excellent. Breakout with volumes. Only drawback is fundamental wise, as company is PAT Negative.
Disc: only for learning purpose. Not a recommendation.
Chart is pretty self explanatory. Fundamentally pretty undervalued compared to peers, but legacy issues during IL&FS and NBFC crisis still an overhang on the stock. But the new management is pretty good.
Disc - Not a sebi registered analyst. Just sharing my views. Already took a position at 450, as i saw the reversal and entered the trade.
CMP - 89.30. Stock taken support at previous high, respecting the higher high pattern. The upper circuit on Thursday was supported by higher volumes. Targets and SL mentioned in the chart.
Disc - Only for learning purpose. Not SEBI registered. I have already entered the trade on Thursday @83. Do your own analysis before entering.
Upward break-out from the trend line, supported by Good Volumes. Initial target can be 38.5 to 41.
Disc - Please note that it is only for learning purpose and do your own study before taking any position.
