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MTF Stock Pick - Buy Power Finance Corporation Ltd For Target Rs. 127 - HDFC Securities 

The sharp down trend in this PSU stock (PFC) seems to have completed, as per weekly timeframe chart.

We observe a formation of bullish hammer type candle pattern in the last weekly candle and also a formation of similar type of candle pattern in this week as well.

The stock price has sustained above the crucial lower support of ascending trend line as per the concept of change in polarity at Rs 110 levels and the buying has been emerging rom near this support since last week. Weekly 14 period RSI shows a positive indication.

The overall chart pattern of PFC indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Power Finance Corporation Ltd @ 116-108 CMP 114.90 TGT 127 SL 105.50

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