stockaxis

Care Ratings Ltd

Ratings

Stocks on The Move

CMP
Rs. 1440.00
Rating:
Buy
November 25, 2024

Stock Info

BSE
534804
NSE
CARERATING
Sector
Ratings
Face Value (Rs)
10
Equity Capital (Rs cr)
30.00
Mkt Cap (Rs cr)
4,146.85
52w H/L (Rs)
1571.00 - 891.00
Avg Daily Vol (BSE+NSE)
241,349

Shareholding Pattern

(as on 30-Sep)
%
Promoter
0.00
FIIs
24.79
DIIs
25.28
Public & Others
49.93
Source: Ace equity, stockaxis Research

Price performance

Return (%)
1m
3m
12m
Absolute
21.85
39.61
52.61
Sensex
-1.38
-2.39
19.83
Source: Ace equity, stockaxis Research

Indexed Stock Performance

Care Ratings Ltd Sensex
Care Ratings Ltd
Source: Ace equity, stockaxis Research

Bounce From Swing Low With Volume, Bullish View

Care Ratings Ltd

CARE RATING has experienced a breakout of its trend line on the hourly chart, indicating an upward trajectory. The stock established a support base within the range of Rs.1315 to Rs.1340, effectively concluding its short-term downtrend. A rebound from this support level, accompanied by increased trading volume, suggests a robust strength in the stock. Currently, it is trading above significant moving averages, specifically the 20EMA and 50EMA on the daily charts. The Bollinger Band (20, 2, S) configuration on the daily chart has begun to expand slightly, with the stock trading near the upper band, signaling potential volatility on the upside. The RSI (14) on the daily chart is positioned below 64.91, indicating that the stock is not yet in an overbought condition. Additionally, the Parabolic SAR is situated below the price action on the hourly charts, reinforcing the notion that the uptrend is likely to persist in the near term. The DMI+ is trending upward and is currently around 31.57, significantly above the 25 threshold, suggesting that overall strength may lead to sustained buying activity from these levels. Based on this comprehensive analysis, we recommend a buying position.

Hence, we recommend to go long around current level and in dip around Rs.1375 – Rs.1385 with stop loss below Rs.1310 for target Rs.1675.

Consolidated Financial Statements