A U Small Finance Bank on a down trend
The stock was trading around 1900+ before falling to lows of 300+. Stock quality is good as well as the financial trend is very positive but the stock valuation is expensive and the stock has shown signs of some correction also.
Since November 17, the stock is on a downtrend and this is not the right time to enter the stock for long as it has still not shown any retracement.
Major support lies at 800
Target Price will remain 950 which was declared by motilal oswal in late october which it has not been able to touch yet. If the stock shows some positive retracement on longer time frame then one can plan of long.
The stock may touch 950 by start of 1st week of January if a positive reatracement is seen from present levels.
PS: This is my first analysis which i am sharing publicly. In case you find the quality of analysis or description, i apologies in advance.
Since November 17, the stock is on a downtrend and this is not the right time to enter the stock for long as it has still not shown any retracement.
Major support lies at 800
Target Price will remain 950 which was declared by motilal oswal in late october which it has not been able to touch yet. If the stock shows some positive retracement on longer time frame then one can plan of long.
The stock may touch 950 by start of 1st week of January if a positive reatracement is seen from present levels.
PS: This is my first analysis which i am sharing publicly. In case you find the quality of analysis or description, i apologies in advance.
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