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Published on 15/04/2019 4:38:19 PM | Source: Choice Broking Pvt Ltd

Option Strategy JM Financial Ltd by Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #JM Financials #Trading Report #Choice Broking

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* On an hourly scale, the stock has given a breakout of its upper band of Falling Channel formation which indicates a bull run in the counter.

* On a daily scale, the stock is bouncing back after taking a strong support of around 85.90 level which is 50% retracement level of its previous move from 73.05 level to 98.70 level which suggests a positive move in the counter.

* Moreover, the stock is sustaining above its 100 Days Exponential moving average which signifies positive trend in the stock.

* A daily momentum indicator RSI reading is at 54.34 level with a positive crossover and trending upward which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

Recommendation

Buy JM Financial Limited @89.45 SL 86.80 TGT 94.80

 

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