JM FINANCIAL - A PURE BUSINESS TURNAROUND STORY

This is a Pure Techno funda pick. The rational behind picking this support is the stock is on a rising channel on a daily time frame, as indicated in the chart. Secondly, Results were outstanding which came few days back, someone may argue why now, because stock is already doubled from march lows, here comes the fundamental part -
1.Management in the past concall after march results mentioned about change in the product mix shifting towards wealth management (fee based) revenue , which is very optimistic from a business stand point of view because of higher margins better markets.
2. AMC business is doubled in the last quarter meaning thereby clear shift in the product mix thereby management indicating 'walking the talk'.
3.Now, most important where the price action could go, following Fibonacci levels on a longer term time frame the next level which is achievable is around 250. someone may still argue why now, because of the latest quarterly results and it seems management has exceeded the expectations of investors.
Lastly, on a pure longterm view and considering success of business it can grow 4X to 5x from current levels , the indicators of operating leverage are already into play making the bottom line of the company strong.
Disclaimer- This is not a Financial Recommendation, this is for the love of techno funda knowledge, please consult your financial advisor before acting.