This small-cap NBFC hits upper circuit on July 5! Find out its target levels here

Considering the pattern, we can expect the stock to test the level of Rs 17, followed by a 200-DMA level of Rs 18 in the short term.

PTC India Financial Services Limited is an NBFC that provides total financial services for companies with projects across the energy value chain. It is a Small-Cap company with a market capitalisation of about Rs 1,000 crore.   

The stock of PFS soared over an astonishing 20 per cent on July 5. With this, it formed a strong technical chart and has jumped over 20-DMA, 50-DMA, and 100-DMA. Moreover, the volume recorded was huge and was greater than the 30-day and 30-day average volume. Nearly 50 lakh shares were traded, which is about 20 times the previous day’s volume. Interestingly, the stock is well off from its low of Rs 12.25 and has crossed above its strong resistance level of Rs 16.   

As per the technical parameters, the 14-period daily RSI (67.27) has entered bullish territory and indicates strong strength in the stock. The MACD histogram has risen exponentially and indicates a strong upmove. The OBV is at its peak and has been the highest in recent days. The Elder Impulse system has signalled a fresh buy. Overall, the stock is quite bullish.   

Considering the pattern, we can expect the stock to test the level of Rs 17, followed by a 200-DMA level of Rs 18 in the short term. Keep an eye on this stock to track its further development.