Poonawala in consolidation crossing the zone it may fly

Poonawala Fincorp after correcting from 300+ levels is trying to form a bottom near 240 / 250 levels. Entry can be taken in the counter after a closing is obtained above 258. Targets will be 268, 288 and 300+. A stop loss should be maintained at a closing below 222. MFs are increasing their hold in the company where promoter pledge is Zero. Cash generation ability of the company is improving and there are signs of positive reversals in net profit. Negative aspect of the stock is high valuation and news of some promoters decreasing their holding.