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Power Finance Corporation Ltd. has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. It also gave positive signal from the rectangle formation at the break up through the resistance at 120.
Further rise to 147 or more is signaled. The moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. 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 127 rupee. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term.
RSI is above 70 after a good price increase the past weeks. The stock has strong positive momentum and further increase is indicated. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
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