UJJIVAN FINANCIAL SERVICES
CMP: ₹327 BSE Code: 539874
I am holding Ujjivan Financial Services 70 nos @Rs 397. Please advise
- Hardik Morzaria
EXIT UJJIVAN FINANCIAL SERVICES BELOW RS 285
Ujjivan Financial is currently trading at Rs.327. Its 52-week high/low stand at Rs 484/ Rs 285 made on October 4, 2016 and December 26, 2016, respectively. Since July 2016, the stock has been trading in a downtrend and after hitting a double bottom at Rs 285 in August 2017, the stock witnessed a reversal where it succeeded in breaking out of two major resistances on the daily charts. However, since September 7, 2017, the stock has been consistently falling. Low volumes and the 14-period RSI quoting at 39 suggests lack of momentum, but the stock may see some action on hitting Rs 335 on the upside. Hence, we suggest you to hold for an upside and exit below Rs 285.