The scrip has seen bullish momentum and rising in ascending channel since 3 months regardless of NIFTY corrections
It can manage to reach TP=115, 120 (Call 15-20 days) even the momentum continues as the trend repeats with %william consolidating in overbought channel for significant time.. Shown strong resistance and rebound from necline (support) levels around 100
Rest in chart..
Comment
⋅
Spinning top..to decide the indecision created and if bears manage to dominate, the scrip can see healthy corrections till TP=100
Comment
⋅
If the scrip is moving upwards in rangebound trendlines. One can again aim for higher high (137) by entering at current levels and beyond, if breakout would occur
Comment
⋅
The scrip appears to form descending triangle which is a bearish formation that usually forms during a downtrend as a continuation pattern. Should be appropriate to buy on dips if breakout occurs..
Comment
⋅
Scrip has again come back from the retracement
Today candlestick has resulted in bullish pin bar with several similar occurrences in the past few sessions
Bullish Reversal Pin Bar Formation
In a bullish pin bar reversal setup, the pin bar’s tail points down because it shows strong rejection of lower prices. This setup very often leads to a rise in price. The bulls have managed to pull up the price upto good extent
Planning to enter at 112-115 (Strong support zone) as the company is also showing progressive sales growth post GST. It is bound to cross the resistance zone of 130-134
Comment
⋅
Scrip is bound to cross 200+ levels with company showing very solid results QoQ, YoY in 8-10 months
Time to add on dips keeping SL at 100
- Revenues increased by 58% - Net profit increase by 178% - Sales volume in LCV and M&HCV) increased significantly - Finance Costs decreased
Company again posted stellar results however market isnt supporting the trend. Again, It is giving chance to enter. Would love to enter around 120-130 price levels aiming for target posted on feb.09