amankavi
Long

Everest : Small Cap Bullish (Investment)

NSE:EVERESTIND   EVEREST INDUSTRIES
Scrip has given breakout from right leg of H&S inverted pattern and gap is formed however, breakaway gap is needed with bulls taking the lead for momentum.

Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above SMA-200 which gives strength to ongoing momentum
2) Didnt get affected much during recent NIFTY 0.70% corrections
3) Volume increase during past few sessions
4) Future positive forecast of the company due to several govt . reforms in pipeline:
http://rakesh-jhunjhunwala.in/vijay-kedi...

Aiming towards Price target after confirmation. Rest in charts

https://www.screener.in/company/EVERESTI...
Risk reward favorable with Price to book value: 1.75, Price to Sales: 0.54. Also, The company has reduced debt
However, Negative cash flow - Con should be kept to watch for
Comment: Surging with high bullish momentum
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