Update on JM Financials. Share price 86. Reduce on rally towards 115.
Stock has recently been hammered due the recent financial Crisis from 140 to 70. Stoploss was triggered at 115.
At 70-80 we liked the valuation of the stock. Anyone holding is advised to reduce the stock on rally towards 110-115 on technical reasons. Stock is taking 200 EMA support on weekly charts and is in pullback rally on its daily charts.
Immediate Rally towards 110-115 is seen and stock will face resistance at early support of 115.
Fundamentally, stock looks attractive at current price for long term. We have a target of 195 in 2-3 years time frame.
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