Fundamentally undervalued as price is trading at 60% of its book value and it's PE is 1/3rd of the sector's PE.
With an increase in REPO rates, borrowings are getting hit but financing margin is improving.
After a long downtrend of around 3 years in a bearish impulsive move, now price is showing bullish corrective move which may end at 540 or 715 level.
Alternatively price is moving inside a descending channel and now it's preparing for a break out.
In case it fails to break out, price can plunge towards 175 level.
Good to accumulate for the following targets:
Short term swing target @ 380 (65% ROI from CMP )
Medium term swing target @ 560 (143% ROI from CMP )
Long term swing target @ 715 (210% ROI from CMP )
Usually the corrective moves have good momentum.
Do your own due diligence before taking any action.
Peace ✌🏻
