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BL Research Bureau
The short-term outlook for the stock of PB Fintech is bearish. The stock has been coming down consistently over the last one week. The fall of 2 per cent on Tuesday has dragged it well below the 21-Day Moving Average (DMA) currently at ₹533. The stock can fall further to ₹440-₹430 from here.
Traders with a short-term perspective can go short at the current levels and accumulate shorts at ₹528. Keep the stop-loss at ₹544 and trail it down to ₹505 as soon as the stock falls to ₹485. Move the stop-loss further to ₹475 when it touches ₹455 on the downside, and book profits at ₹440.
The stock will have to rise past ₹533 – the 21-DMA decisively to negate the bearish outlook. But that looks less probable as seen from the charts.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading)
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