RushabhPatwa

AMARAJABAT - FAVOURABLE RISK REWARD

Education
NSE:AMARAJABAT   AMARA RAJA BATTERI
AMARAJA BATTERIES was in downtrend since 6 Months & Now it has shown a reversal.

Pros for taking position

Technical
1) Support
2) Bullish Engulf
3) Trendline Breakout

Fundamental
1) Electric Battery Industry is Expected to grow at around 15.9% CAGR till 2027
2) It is a second leading player in making Batteries and it has to benefit from the demand which is going to come in next few years
3) As Govt is spending huge on EV and demand increasing for EV we can expect it to go up from here.

Cons
Technical
1) Volume has not been impressive and no big money yet Involved.

Fundamental
1) Company has not been able to give better results due to price war and higher lead prices
2) Environmental Reasons for harmful Emission - AP Govt asking it to shift the plant due to this.

Comments

orrection mode over, now accumulation zone is started. But trend is bullish for long term. ONLY FOR EDUCATION PURPOSE
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