My conditional buy idea on NSE:POONAWALLA is to take entry once price reach at level of 288. Will take stop loss if price trade below 275 (-13 Points)
My up side target will be 300(+12 Points), 309 (+21 Points) & 322 (+34 Points). It could be best risk and reward idea.
Note: This is my personal analysis, only for learning. Thanks.
Entry in Poonawala Fincorp can be taken above 247.5 closing. The targets will be 282 and 303. Long term target in the company will be 340+. Stop loss can be closing below 214. Poonawla Fincorp is valuation wise little expensive stock but momentum in the stock is picking up. The company has Zero promoter pledge and FII/ FPI stake in the company is also increasing.
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...
