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Kunal Bothra view on JM Financial
JM Financial has managed to cross today the 200 DMA, which is a positive sign. Probably change of a long term trend if it sustains above Rs 30-31 level, says Kunal Bothra, Senior Technical Analyst, LKP Share.
JM Financial has managed to cross today the 200 DMA, which is a positive sign. Probably change of a long term trend if it sustains above Rs 30-31 level, says Kunal Bothra, Senior Technical Analyst, LKP Share.
Bothra told CNBC-TV18, "I don't track Hathway Cable very much but looking at the charts right now probably some sort of a rally in this, I don't see change of the trend because in the kind of badgering it had received through Rs 240 to sub 100 levels it's just a follow up rally. It has to stay there for quite a few times, it has a major resistance at Rs 156-157, that's the 200 DMA. So I think below that it's just a rally which I would consider for Hathway."
He further added, "JM Financial looks interesting. I think if I have to compare either on the Hathway or JM Financial, JM looks a better chart because it has managed to cross today the 200 DMA which is a positive sign for the stock. Probably change of a long term trend if it sustains above Rs 30-31 level."
