Hathway Cable & Datacom Ltd is an Indian cable television service operator based in Mumbai. Company's future is very bright and a very big hand, i.e. Reliance Jio Infocomm Limited (JIO) is having a big stake of 53% in this company. Also, FII's has increased their shareholding from 3.28% to 5.84%, and DII's from 5.62% to 6.96% . So concluding, both Fundamentals and Technicals are saying us to buy the stock.
One can make an entry at current market price of 23.55 by keeping a stop loss @22 on a closing basis. Potential Target can be 56 (138%). Maximum time to achieve the given target could be 6-7 months.
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I made an entry at a lower price than expected while analyzing the stock. Although my Stop Loss and Target remains the same at 22 (closing basis ) and 56 respectively; my Risk to Reward ratio has increased.
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Safe Traders can now enter, as the stock has shown a good reversal sign from the bottom level.