Buy PFC at Rs 235-240: Sharyans Resources
From a trading perspective, one could look to buy it. From a little medium term perspective, one could also look to invest. Somewhere around Rs 235-240 would be a region to buy.
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| In a chat with ET Now, CK Narayan, President Treasury, Sharyans Resources, shares his trading calls.
What is the call on PFC?
PFC has been packing big time from Rs 385 levels and is down about 40% from those levels. On the charts, we find that Rs 235 is the first level of support that we can look at. With the news of the government approving its FPO, there should be a little bit of cushion on the lower side. So, we saw an intraday low today at about Rs 236 on the future. We are not done with the decline. From a trading perspective, one could look to buy it. From a little medium term perspective, one could also look to invest. Somewhere around Rs 235-240 would be a region to buy.
What is the call on PFC?
PFC has been packing big time from Rs 385 levels and is down about 40% from those levels. On the charts, we find that Rs 235 is the first level of support that we can look at. With the news of the government approving its FPO, there should be a little bit of cushion on the lower side. So, we saw an intraday low today at about Rs 236 on the future. We are not done with the decline. From a trading perspective, one could look to buy it. From a little medium term perspective, one could also look to invest. Somewhere around Rs 235-240 would be a region to buy.
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