amankavi
Long

Banco - Strong fundamentals - Rounding bottom (reversal)

NSE:BANCOINDIA   BANCO PRODUCTS
Scrip price action can be seen taking a pullback after forming rounding bottom pattern for approx. 10 weeks and standing at attractive valuation currently with right P/E - https://www.marketsmojo.com/Stocks?Stock...

Expecting the scrip to first touch tp-1 and then, surpass 52-week highs this time after reversal and crossing strong resistance owing to its strong fundamentals and growth chart. Exceptional surge in volumes is needed in order to support the rally

Having already invested in the company owing to strong fundamentals and progressive Q1 results

Pros:
1) Sufficient Reserves with borrowings (debt) coming down drastically and no stocks pledged
2) Good Q1 results posted :
https://www.indiainfoline.com/article/ca...
3) Strong fundamentals with strong clientele- http://www.fundamentalblasters.com/banco...
4) Virtually debt free company -
https://www.screener.in/company/BANCOIND...
5) Shareholding - Majorty stakeholding by promoters which has been consistent over the past years with FIIs stackholding getting increased -
https://www.marketsmojo.com/Stocks?Stock...

https://www.valueresearchonline.com/stoc...

Technical factors given in chart..

One can invest as long term investors. Do ensure to do your own analysis before investing as these are my personal views here :)
Trade active: Invested and have added more on dips.

Scrip showing bullish divergence so expected to bounce back anytime with bulls taking charge

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