Achin Goel
Ujjivan Financial Services has given a falling trendline breakout on the weekly chart which indicates a reversal of the previous sideward trend. On the daily chart, the price has been trading comfortably above the 50 EMA as well as 200 EMA.
Momentum oscillator, RSI (14) is in bullish crossover and rising on the weekly chart indicating a positive range shift in the price momentum.
Traders can accumulate the stock in the range of Rs 415 - 422 for target of Rs 485 with a stop loss below Rs 394.
Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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