Monthly technical stock pick - SKS Microfinance & DCB Bank

Buy SKS Microfinance between Rs 467.90 & Rs 430. Buy DCB Bank between Rs 114.45 & Rs 105

Attached weekly timeframe chart of this micro finance stock (SKS Microfin) is indicating an excellent upside movement over the last many months.

 The stock prices have moved up in the positive sequence of higher tops and bottoms around the intermediate trendline support (brown line, which is connected from the low of 97.00-later July-13).

 Recently in the last couple of months, the stock prices have shifted into sideways consolidation around the support and now is making attempt to move above the consolidation around Rs.462 levels-green line. This is positive indication for the stock price ahead.

 Weekly momentum oscillator like 14 period RSI has turned up afresh from near 60 levels, which is indicating the strong upside momentum in the stock price.
 Positive chart and momentum pattern is suggesting a buying opportunity in SKS Microfinance for near term.

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