SUNDARAM FINANCE - RISING WEDGE SINCE AN YR

12 thg 7, 2024

Hi All,

This idea is about Sundaram Finance Holding

Fundamentals

Market Cap - 6k Cr
Mkt Cap/Sales - 20.9
ROE - 12%
P/BV - 1.27
Div Yield - 2.81%

Technicals

Price action has been in a rising wedge pattern since Jul 23 & currently consolidating at the bottom of channel for past few days. It can give a upmove of nearly 25% in very short term.

Traders can take positional trades to capture the move.

There is a small resistance for which traders need to be careful. Price reverted twice from that level

SL will be lower channel breach

Hope for a successful trade,

Thanks,
Stock-n-Shine