PFC

CMP: ₹125 BSE Code: 532810

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I en­tered Power Fi­nance Cor­po­ra­tion at Rs 165, Should I hold or exit at loss?

- Pradeep Dan­tkale

HOLD POWER FI­NANCE COR­PO­RA­TION BE­LOW RS 119

PFC is cur­rently trad­ing at Rs 125. Its 52-week high/low stand at Rs 169/Rs 103.30 made on April 11, 2017 and Novem­ber 9, 2016, re­spec­tively. Con­sid­er­ing the weekly time frame, af­ter con­sec­u­tively fall­ing for 4 weeks in May 2017, the stock has been trail­ing in con­sol­i­da­tion with not much mo­men­tum in the price de­spite jus­ti­fi­able vol­umes. Also, the 14-pe­riod RSI is quot­ing at 46 which sug­gests lack of mo­men­tum. Con­sid­er­ing the daily time frame, the stock has been fol­low­ing a trend of con­sol­i­da­tion af­ter a con­sid­er­able fall. Hence, cur­rently it is ex­pected to con­sol­i­date for some ses­sions. Hence, we sug­gest you to hold up to Rs 119 on the down­side.

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