Capri Global Capital: A promising NBFC with a bullish trajectory

Capri Global Capital Ltd. stands as a non-banking financial institution, dedicated to fund-based financing services. Their product portfolio encompasses ECLGS, home loans, MSME loans, indirect lending loans, and construction finance loans. Founded by Rajesh Sharma on November 15, 1994, Capri Global Capital Ltd. is headquartered in Mumbai, India.

Diversified as a Non-Banking Financial Company (NBFC), Capri Global is strategically positioned across various sectors, including MSME, Construction Finance, Affordable Housing, and Indirect Retail Lending. Their journey commenced with the initiation of the Construction Finance Business in 2011, followed by MSME lending in 2013 and Housing Finance in 2016.

A thorough examination of Capri Global Capital Ltd.’s recent stock performance unveils a compelling trajectory. On June 15, 2023, the stock reached its zenith at Rs 876, subsequently retracing to establish stability near the 50% Fibonacci retracement level. This retracement closely corresponds with a noteworthy upswing that began in late March 2023, converging around Rs 566.

Recent trading sessions have witnessed a surge in buying interest, propelling the stock on an upward trajectory that closed above key short-term daily moving averages (DMA). Notably, a significant breakout trendline has emerged, linking the high point of June 15, 2023 (Rs 876) with the peak of August 21, 2023 (Rs 839.80). This formation signifies an extended continuation price pattern spanning over a 65-day period.

In the latest trading session, the stock experienced an upward movement of 3.55%, positioning itself just below the aforementioned breakout trendline. The confirmation of this breakout hinges on the stock’s daily close surpassing the breakout level at Rs 821, which instils a sense of optimism among investors.

Upon confirmation, the stock sets its sights on a potential target of Rs 1025, representing an approximate gain of 25% from the breakout threshold of Rs 821. This scenario presents an enticing opportunity for both swing traders and long-term investors to closely monitor Capri Global Capital Ltd.’s performance. The company’s trajectory offers a promising outlook, brimming with potential for further upward gains.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.