Watchout for Resistance Breakout - Keep Accumulating
Elantas Beck India L is involved in the business activities of Manufacture of paints and varnishes, enamels or lacquers.
The Stock is likely to breakout its resistance. RSI is perfectly placed at 65 on weekly charts indicating that its not in overbought zone.
The most attractive thing about this stock is its Fundamentals. The Company has been reporting consistent growth in its sales and EPS for last 3 quarters. The Sales increased 19%, 26% & 23% YoY in Q2, Q3, & Q4 of FY21. EPS has improved 49%, 114% & 36% YoY in Q2, Q3, & Q4 of FY21. Mutual Funds have increased their stake from 6.24% in June 2020, to 7.57% in March 2021. FPI stake also increased marginally. The Company is debt free.
The Company has huge potential to report such robust numbers in future as well.
Accumulate for Targets of 4100-4400 with SL at 3450. Lon Term Target 5000+++
Don't forget to share your feedback.
The Stock is likely to breakout its resistance. RSI is perfectly placed at 65 on weekly charts indicating that its not in overbought zone.
The most attractive thing about this stock is its Fundamentals. The Company has been reporting consistent growth in its sales and EPS for last 3 quarters. The Sales increased 19%, 26% & 23% YoY in Q2, Q3, & Q4 of FY21. EPS has improved 49%, 114% & 36% YoY in Q2, Q3, & Q4 of FY21. Mutual Funds have increased their stake from 6.24% in June 2020, to 7.57% in March 2021. FPI stake also increased marginally. The Company is debt free.
The Company has huge potential to report such robust numbers in future as well.
Accumulate for Targets of 4100-4400 with SL at 3450. Lon Term Target 5000+++
Don't forget to share your feedback.
Trade closed: stop reached
Comment:
Can wait for a fresh breakout and enter again with same SL and for same target
Trade active:
Enter again, ready for targets