SKS microfinance buy sell or hold - resistance at rs 550 - then 830 support at rs 250

As per the daily chart of SKS Microfinance it is clear the stock is in a uptrend and the immediate resistance could be Rs 550. If it cross the mark and trade with solid volumes then it could go to rs 830 levels. The support for the stock is at Rs 250. I think if there is a profit booking at current levels of Rs 494, the stock could come down to Rs 350 - 400, i think the level should bought.

The SKS Microfinance chart clearly shows there is a spike in volumes in the last two trading sessions along with price increase. This shows, there is some buying interest coming to the stock.

These are technicals, what fundamentally drive the stock to go up ? There was a news recently that Microfinance companies could go under the control of RBI from state governments. that is why this spike in price and volume.

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Technical analyst and Experts view on SKS Microfinance

Sonam Udasi , Head of Research, IDBI Capital says

I would actually wait for more clarity on what RBI

http://economictimes.indiatimes.com/markets/stocks/views/recommendations/wait-and-watch-for-sks-microfinance-sonam-udasi/articleshow/9162969.cms

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Ashwani Gujral says to wait and buy

Technical analyst and trader Ashwani Gujral advice to wait before buying SKS microfinance stock , because he feels the stock could consolidate.

http://articles.economictimes.indiatimes.com/2011-07-08/news/29752029_1_ashwani-gujral-sks-microfinance-consolidation

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Vijay Bhambwani says to hold the stock

Vijay Bhambwani says to hold the stock

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Some experts says it would be difficult for micro-finance

Some experts says it would be difficult for micro-finance companies to get back their money without the support of state governments, so this RBI move would not help the companies much. so they advice to book profit in the stock at current market price

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Book profit at rs 543

Book profit at rs 543 and again buy if there is any dip comes, this stock could go higher as per technical chart

wait to buy the stock at rs 400 levels

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touched 600 and again came back to rs 430 levels as i said

touched 600 and again came back to rs 430 levels as i said.

again in upper circuit today

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SKS microfinance profit and revenue decrease in Q1 FY12

SKS microfinance profit and revenue decrease in Q1 FY12 compared to Q1 FY11.

Revenue
RS 313.61 crores in Q1 FY11
Rs 176.71 crores in Q1 FY12

Profit

Rs 218.74 cr loss in Q1 FY12 compared to Rs 66.69 cr profit in the same period last year

SKS Microfinance To Raise Rs 900 Cr Via QIP, the company facing some problems in the state of andhra pradesh.

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