Ujjivan getting a New Jivan (Life)
Entry in Ujjivan Financial can be taken after closing above 282 closing. Targets will be 307 and 314. Crossing and closing above 314 can lead to a fresh breakout and in that case the long term targets for the company can be 341 and 365. Stop loss in the stock can be maintained at a closing below 257. Negatives about the company are that its Book value and RoCE was deteriorating for last 2 years. Positive aspects are that the company has shown good quarterly growth and increasing revenue in results of last 3 quarters. Valuations of the company right now are very attractive as the company currently trades at a PE of 4.9.
Happy Candles Investment
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