Sell UJJIVAN FINANCIAL SERVICES
| CP# | 344.3 |
| Idea | SELL |
| Sell Range | 358 – 345 |
| Target | 310 – 295 |
| StopLoss* | 365 |
| Duration | 20 – 25 Trading Days |
| Potential Return^ | 10 – 14% |
| CP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 344.3 | SELL | 358 – 345 | 310 – 295 | 365 | 20 – 25 Trading Days | 10 – 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#
Verify Ultra Equity Advice #102
To verify our authenticity and credibility, do check the trading position update and recommendation timestamp. Be assured such records are permanent and irreversible.
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 Code | UJJIVAN |
| Sectoral Index | Financial Services |
| 52W High | 371.6 |
| 52W Low | 207.05 |
| Face Value | 10 |
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.
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.
