Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

Small & Midcap Mantra: This AMC is trading near crucial support; experts see over 20% upside in short term

Technical charts suggest a buying opportunity in Nippon India MF.

June 30, 2021 / 12:50 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The stock price of asset management company Nippon Life India Asset Management Ltd rose over 23 percent in the first half of 2021, much ahead of Nifty's 13 percent rally in the same period.

After hitting a 52-week high of Rs 385.15 on June 7, the counter has seen consolidation and is currently trading near the crucial support at the 50-Days Exponential Moving Average. History suggests that whenever the stock trades around this short-term moving average it sees a sharp bounce back.

According to experts, this presents a short-term opportunity in the stock for a target of Rs 430-450. This translates into an upside of 16-22 percent from CMP.