Ujjivan Small Finance Bank Limited has broken through the floor ofa rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal developrment. The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 49.00 rupee. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices.
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This indicates
increasing optimism among investors. The
short term momentum of the stock is strongly
positive, with RSI above 70. This indicates
increasing optimism among investors and
further price increase for Ujjivan Small
Finance Bank Limited. The stock is overall
assessed as technically positive for the
medium long term.
