SKS Microfinance is the largest micro finance in terms of outstanding loans, number of borrowers and number of branches in India. The company is engaged in providing finance to women in lower income groups. SKS Microfinance is expected to give good quarter.
On technical charts (monthly) SKS Microfinance is seen on the verge of breaking out of rounding bottom pattern. This pattern gives us a much bigger target of 1000. It has resistance in broad area of 620-750. This resistance is a tested and hence expected to break for target of 1000 in a year or so.
Investors who can wait for a year can start accumulating SKS Microfinance at current level.
Stoploss: 520
Target: 1000
Time Frame: one year
Positional traders can buy this stock at current level, add more quantity at lower level till 550
Target: 680
Stoploss: 540
Time Frame: 2-3 months
We had picked M&M Financial Services when it was trading at 231 on 17 March 16. Today is now trading at 292. Current gains are 27%.
Check the influence areas on chart:
On technical charts (monthly) SKS Microfinance is seen on the verge of breaking out of rounding bottom pattern. This pattern gives us a much bigger target of 1000. It has resistance in broad area of 620-750. This resistance is a tested and hence expected to break for target of 1000 in a year or so.
Investors who can wait for a year can start accumulating SKS Microfinance at current level.
Stoploss: 520
Target: 1000
Time Frame: one year
Positional traders can buy this stock at current level, add more quantity at lower level till 550
Target: 680
Stoploss: 540
Time Frame: 2-3 months
We had picked M&M Financial Services when it was trading at 231 on 17 March 16. Today is now trading at 292. Current gains are 27%.
Check the influence areas on chart:
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