Ujjivan Small Finance Bank Target Price

Buy UJJIVANSFB @ 53.10 and add up to 51.5, with a target of 60 and a stop loss at 49.5

Duration: 1 month to 3 months

Ujjivan Small Finance Bank Target Price 2024

Ujjivan Small Finance Bank (UJJIVANSFB) exhibits a robust technical outlook with a formidable support base of around 50, aligned with its 200-day Exponential Moving Average (EMA). Currently trading at 53.10, the stock has demonstrated a noteworthy bounce-back from these support levels. A modest resistance near 55.80, proximate to its 50-day EMA, awaits a breakthrough, paving the way for an upward trajectory towards the target of 60 and beyond.

Strategic buying opportunities are identified on any potential dips, particularly up to 51.5 levels, with a recommended stop loss at 49.5, just below the strong support levels. The momentum indicator, the Relative Strength Index (RSI), rebounding from the lower levels of 28.60, currently stands at 39.98, signifying renewed strength.

In conclusion, a comprehensive strategy involves buying UJJIVANSFB at the current market price of 53.10, with additional accumulation on dips to 51.5. A stringent stop loss at 49.5 is advised for risk management, targeting a price objective of 60, aligning with the positive technical indicators.

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