IIFL Finance chart attached below. It has recently broken out above the trend line and is currently trading at its 52 week high (CMP~462Rs.) 520 is the next resistance. If it touches 520, then comes down to retest the upper trend line and then breaks out above 520, next target can be 750.
Fundamentally, its numbers have been improving since last few quarters. GNPA 2.42%, ROE 20, ROA 2.74%, with revenue and profits at all time high. Current P/B = 2.1 with median P/B = 1.7.
Fundamental risk – Margins are at all time peak, how much higher they can go remains to see.
Different views are welcome!
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