Chennai Petro - Multi Year Breakout
Updated
Cant Miss this Breakout !!!
Look Closely Counter is breaking multiyear High of Nov 2007 and Oct2017. Forming a Double Bottom as well in this Process.
The Oil & Gas Index has also given a monthly Demand Zone Pull and the Index itself is moving +500 Points. This is supporting my logic
Should go a Long way if the breakout above 445 sustains.
Take entry at CMP 441-445
T1 - 478 shorterm
T2 - 557 midterm
T3 - 700 Long Term
SL - 424
Fundamentals for Value Investors
Look Closely Counter is breaking multiyear High of Nov 2007 and Oct2017. Forming a Double Bottom as well in this Process.
The Oil & Gas Index has also given a monthly Demand Zone Pull and the Index itself is moving +500 Points. This is supporting my logic
Should go a Long way if the breakout above 445 sustains.
Take entry at CMP 441-445
T1 - 478 shorterm
T2 - 557 midterm
T3 - 700 Long Term
SL - 424
Fundamentals for Value Investors
- Strong Annual EPS Growth
- High Revenue and Profit Growth with High Return on Capital Deployed (ROCE) and Low PE ratio
- Effectively using its capital to generate profit - RoCE improving in last 2 years
- High growth and High Return on Equity (ROE) with Low PE ratio
- Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
- Strong Momentum: Price above short, medium and long term moving averages
- Annual Net Profits improving for last 2 years
- FII / FPI or Institutions increasing their shareholding
Trade closed: stop reached
SL Hit however there is a dividend declared for Rs27/-Note
Meeting Target one today 478Note
Met Target 557. Seen 606 on chartsTrade closed: target reached
Target Hit of 700 from 440 Levels
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