Cholamandalam eyes ₹1,650 as key support holds: Analyst
Cholamandalam is showing signs of accumulation after holding its 55-day EMA, with a bullish double bottom forming on the hourly chart. Analyst Deepak Pal sees upside to ₹1,650 if ₹1,535-₹1,540 holds. Strong NBFC sector sentiment, solid FY24 earnings, and rural lending strength support the bullish case.