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“There are many players in gold loans but we are in the small ticket size segment. The average ticket size is around Rs 50,000 and these are short-term loans in the sense that the average loan period is around 100 days. In this segment, what is most sought after is the quick delivery and doorsteps servicewherever required. In these areas, there is enough headroom for us to play.”

The midcap and smallcap stocks have seen a strong rally over the last six months and have outperformed the headline Nifty50 index. While the Nifty Midcap 100 and Nifty Smallcap 100 have given returns of over 27% and 40%, respectively, over the last six months, the returns by Nifty have been at 8%.

“Kotak and HDFC and ICICI all the private sector banks have good weightage on the Bank Nifty. So, I am sure that Kotak Bank will inch towards Rs 1,830 levels and definitely will push Bank Nifty as well above 44,500. I have a short-term target of Rs 582 on ICICI Pru. One can buy that with a stop loss of Rs 534. These are the futures levels.”

In the dynamic world of stock markets, technical indicators play a crucial role in helping investors make informed decisions. One such indicator is the 50-day Simple Moving Average (SMA), a popular tool that provides insights into short-term price trends.

The stock quoted a 52-week high price of Rs 1284.45 and a 52-week low of Rs 658.0.

As of 30-Sep-2023, promoters held 0.0 per cent stake in the company, while FIIs held 7.82 per cent and domestic institutional investors had 0.83 per cent.

“Segments which are linked to the broader capex side of the story, are showing good growth and the narratives are very strong. As we look towards the economic upcycle over the next few years, some of these companies are going to grow meaningfully 30-40% higher from where they are in terms of their business revenues. ”

On the technical charts, the RSI of the stock stood at 50.84.

“In the auto sector, clearly passenger vehicles as well as two-wheelers have done very well. There has been some amount of revival in the farm sector. But that is more company specific. Companies like Escorts are doing very well and that is because not just farm, but farm-related equipment are also doing well. As far as two-wheelers are concerned, this is the part of the consumer durable spend that is holding up. ”

The NSE chief was, however, quick to add a caveat. Chauhan said he invests his personal wealth only in mutual funds and not in direct equity participation.