Portfolio

Power Finance Corporation (₹87): Buy

Yoganand D BL Research Bureau | Updated on September 07, 2018 Published on September 06, 2018

Investors with a short-term perspective can buy the stock of Power Finance Corporation (PFC) at current levels. The stock picked up bullish momentum on Thursday and surged 4 per cent with an above average volume breaching a key resistance at ₹84. Moreover, the stock has decisively breached its 21-day moving average and hovers well above its 50-day moving average as well.

Since registering a 52-week low at ₹67.6 mid-July this year, the stock has been in a short-term uptrend backed with good volume. Within this uptrend, the stock has been moving sideways over the last three weeks, but with a positive bias.

The daily relative strength index is on the brink of entering the bullish zone from the neutral region and the weekly RSI is charting higher in the neutral region. Both the daily and the weekly price rate of change indicators feature in the positive territory indicating buying interest.

Overall, the short-term outlook is bullish for the stock of PFC. It can continue to trend upwards and hit the price targets of ₹90.5 and ₹92.5 in the ensuing trading sessions. Buy the stock with a stop-loss at ₹85.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.


  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.


  • Ad free experience

    Experience cleaner site with zero ads and faster load times.


  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor