Multibagger idea reap patience with karur kvb target 60 in 2qtr A long consolidation supported by a systematic fall in a channel and now slowly steady making higher lows.
Mukul Agarwal bought whooping 2% stake in march ,22, the fundamentals are all crystal clear with rising bank's portfolio and continuously falling Net NPA, this will attract the DII and retailers having said that Book value is Rs 94, PE of 5 against industry pe of 19.
KARURVYSYA trade ideas
Karur Vysya Bank looking bullish with great RRLet's see step by step analysis
First price action : Area arnd 58.75- 58.8 is a support where stock was able to form a base and today formed a good bullish candle with a vol spike
Fibonacci Cluster :
There are two Fibonacci retracements plotted. (1) By taking 53.55 as swing low & (2) By taking 42.1 as swing low. So 50% retracement of (1) is exactly coinciding with 23.6 % of (2).
And this coincidence is at the price range which we got with the help of price action. So a good buy can be initiated above 61.5 with 58.5 as Sl for the target of 67.7