CMP: ₹125 BSE Code: 532810
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.