OUR RECOMMENDATION
| CMP# | 105.65 |
| Idea | BUY |
| Buy Range | 104 – 106 |
| Target | 113 – 129 |
| StopLoss* | 99 |
| Duration | 25 – 30 Trading Sessions |
| Potential Return^ | 7 – 22% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 105.65 | BUY | 104 – 106 | 113 – 129 | 99 | 25 – 30 Trading Sessions | 7 – 22% |
# CMP on Dec 17, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 109.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
REC Ltd is a nonbanking financial company providing financial services for power generation, transmission, and distribution projects in India. It offers long term loans, medium and short term loans, debt refinance, equity and equipment finance etc. In Q3FY19 the company’s net income was improved by 30% to Rs.7286 crore and Net Profit jumped by 25.33% YOY to Rs.1764 crore.
| Stock Data | |
| NSE Code | RECLTD |
| Sectoral Index | Nifty Financial Services |
| 52W High | 165.35 |
| 52W Low | 89 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (WEEKLY)
- In the weekly chart, the stock price has placed near the lower end of a sideways channel.
- As per historical evidence, we are expecting price to meet the upper bound of the channel.
- Stock Price recently make Breakout above the true crucial Weekly Resistance, at 340.
TECHNICAL OBSERVATIONS (DAILY)
- The closing is above 5 DMA and 10 DMA crossover on daily charts indicating the stock is ready for an up move.
