|Buy Range||288 – 293|
|Target||312 – 315|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||6 – 8%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|293||BUY||288 – 293||312 – 315||280||12 – 15 Trading Sessions||6 – 8%|
# CMP on Oct 24, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 303.
^ The returns are calculated based on CMP#
Cholamandalam Invest and Finance Limited is a non-banking financial company provides commercial vehicle loans, two-wheeler loans, construction equipment loans, home loans, business loans for SME, refinance loans, agricultural loans etc. The company also offers health and general insurances, mutual fund, wealth management, PMS, ETF and SIP services, bonds, Demat and depository participant services. As of March 2019, the company has 911 operational branches throughout India. In Q1FY20 the company’s net income was improved by 24.5% to Rs.2,045 crore and consolidated Net Profit increased by 12% YOY to Rs.315.17 crore.
|Sectoral Index||Financial Services|
TECHNICAL OBSERVATIONS (MONTHLY)
- On a monthly chart, the stock has been moving with it’s upward rising trend line since last many years and it seems that it could continue with its ongoing move.
- The current price just holds above the trend line which was tested several times during 2010-2019, thereby making it strong support.
TECHNICAL OBSERVATIONS (DAILY)
- Technical indicators are currently giving positive signals as the stock trades above the short term (20 days EMA) and medium term (50 days EMA) moving averages.
- Overall a positive chart and momentum pattern indicating an opportunity for a BUY trade. Advice to Buy this stock as per the levels mentioned above.