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⭐ Ultra Equity Advice #102 | Sell | Expected Profit 10-14% | Arijit Banerjee

OUR RECOMMENDATION

  Sell    UJJIVAN FINANCIAL SERVICES  

CP#344.3
IdeaSELL
Sell Range358 – 345
Target310 – 295
StopLoss*365
Duration20 – 25 Trading Days
Potential Return^10 – 14%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
344.3SELL358 – 345310 – 29536520 – 25 Trading Days10 – 14%

# CP – closing price on Dec 10, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 327.
^ The returns are calculated based on CP#

COMPANY OVERVIEW

Ujjivan Financial Services, a microfinance institution, provides retail banking services and a range of financial services to economically active poor in an urban and semi-urban area in India. Ujjivan offers a diverse range of loan products which can be classified under two broad categories, namely, Group Loans and Individual Loans. Depending upon the end-use, these products can be further sub-divided into agricultural, education, home improvement, and home purchase and livestock loans. The consolidated revenue rose 52.56 per cent to Rs 691.35 crore as against the year-ago period.

Stock Data
NSE CodeUJJIVAN
Sectoral IndexFinancial Services
52W High371.6
52W Low207.05
Face Value10
Relative Performance_Ujjivan Financial vs Nifty Fianancial Services

TECHNICAL OBSERVATIONS (WEEKLY)

  • Attached weekly time-frame shows, the stock price has been moving in a broader sideways range in more than two tears, and the stock price was showing lack of strength to sustain any directional move during this period.
  • Presently, the stock price has placed near the upper end of a sideways range which had been tested several times in the past and based on historical price pattern we are expecting the price to fall off from here.
Ujjivan Fianancial Technical Analysis - Weekly Chart
Ujjivan Fianancial Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • After a consistent uptrend in the last 18 days, the stock price has broken the support of near 350 levels.
  • Further, volumes have been healthy in this breakout confirming the bearishness.
  • RSI(14) crossed below the overbought levels 70 signalling lack of strength in the upside momentum and could eventually shift into the strengthening of downside momentum.
Ujjivan Fianancial Technical Analysis - Daily Chart
Ujjivan Fianancial Technical Analysis - Daily Chart

LIVE UPDATE - POSITION & ACTIVITIES

Sold Ujjivan Financial Services at ₹ 346.20 by GoodluckCapital on TradingView.com

Sold Ujjivan Financial Services at ₹ 346.20 by GoodluckCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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