M&M Financials was down and out stock in 2015
The stock was so out of fashion that it was not even on discussion radar but stock has made a dramatic comeback in last 2 months. With company posting solid results on Saturday - the trend will only gain momentum.
As you can see in the chart above - M&M Financials stock has cleared 200 dma hurdle and also rallied sharply past it.
The turnaround has been so sharp that stock has been able to undo the bulk of price damage of CY2015 in just 4-6 weeks. It's a clear sign that investor perception about the stock has changed for good and now stock is strong buy on declines.
Add the stock on Watch List and look for pullback to add. Remember, never chase the stock. The prices do pullback. All one needs is patience.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers