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Good Morning!

Here's our short-term view on *Rajratan Global Wire*

The stock has been in an uptrend and is trading at its all-time high.

It is currently trading above all its short-term and long-term moving averages, which is a positive sign.

Its momentum indicator i.e. RSI is rising but the stock is in the overbought zone.

Fresh entries are advised once the stock sustains above 1150 for a near future target of 1220.

App link 🔗https://tinyurl.com/yjub335r
*IDFC First Bank*

The stock was volatile in the past year mainly due to concerns on growth and asset quality. However, looking at the June quarter results, we believe the worst is over and the company is now on a steady growth path.

We have a bullish view on the stock from a medium-to-long term perspective due to the following reasons:

Sharp turnaround in Q1: Revenue up 20%, Net Profit of 474 cr vs Net Loss of 630 cr

Net Interest Income (NII) up 26%, Net Interest Margin (NIM) improved to 5.89% from 5.5%, Customer deposits up 21% YoY

Asset quality improved while Collection efficiency surpassed pre-covid levels

Healthy business growth and steady asset quality should boost Return on Equity going forward

Link 🔗https://tinyurl.com/yjub335r
After reclaiming its 200 EMA with high volumes yesterday, the stock is currently trading near its resistance zone of 835-850.

Its RSI has also bounced back to beyond 50. However, fresh entries are advised once the stock sustains and closes above 850 for a near-term target of 900-925, with a stop loss of 825 on closing basis.

👆 question Any Views on MCDOWELL-N?