Tranche 1 - 47 shares @ 573 on 8 Dec 2021
Tranche 2 - 35 shares @ 574 on 4 Jan 2022
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price declining since top in Sept... Looks like accumulation since early December. Price was below 200 DMA in Dec but has crossed up 200 DMA and taken a pullback till 21 DMA... ideally should continue the journey upwards
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD, RSI and MFI? Not very clear
2. At important support or resistance - horizontal - Yes - 576
3. At important confluence of EMAs + price + support - Yes - Daily 200 and Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - HH,HL plus volume shows buying - though 4 Jan's pull back candle is big red
4. Is there any trend continuation in play?
Currently in accumulation.... Good candidate for up trend
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
Yes breakout of key level 576 + pull back to key level... ideally upward trend should continue
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE Higher than 2020 but since 2020 PE breakout, at lowest point i.e. 55... high was 65
2. Are institutional investors/promotors increasing their stake - Institutional have increased while domestic and public have reduced
Tranche 2 - 35 shares @ 574 on 4 Jan 2022
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price declining since top in Sept... Looks like accumulation since early December. Price was below 200 DMA in Dec but has crossed up 200 DMA and taken a pullback till 21 DMA... ideally should continue the journey upwards
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD, RSI and MFI? Not very clear
2. At important support or resistance - horizontal - Yes - 576
3. At important confluence of EMAs + price + support - Yes - Daily 200 and Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - HH,HL plus volume shows buying - though 4 Jan's pull back candle is big red
4. Is there any trend continuation in play?
Currently in accumulation.... Good candidate for up trend
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
Yes breakout of key level 576 + pull back to key level... ideally upward trend should continue
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE Higher than 2020 but since 2020 PE breakout, at lowest point i.e. 55... high was 65
2. Are institutional investors/promotors increasing their stake - Institutional have increased while domestic and public have reduced
Comment:
Fair Q3 2021 results..delivered 2% profit growth and 8% sales growth despite High inflation
Comment:
Added 45 more at 530
Comment:
Added 97 more at 511, Q4 2022 results disappointing - weak rural demand
Trade closed manually:
Took profits on 5 Aug, 2022 at 580 @ 7.82% profit