Good company ,Not a good time to add. Wait for SEP QUATER RESULT

Makgopro Updated   
Ok this analysis is my 4rth about LXCHEM from which i made a good return after its IPO DEBUT

Had got huge quantity at around 220 INR AND SOLD AT 500 ABOVE .

Now as I wanted to reenter the stock , so here's my analysis

1.As the company has been shut for close to a month during sep quarter , the results will get affected .

2.Last quarter results are also not par with June 2021 results and eps are down

3.Will make entry only after results are out and when price come down a bit.

4.The company has given notice about Aquitation , it may be a good news it may not be but cant risk as retail people get trapped in news .

Now for the technical part

1. The price has created a Rising wedge pattern , certain sell will come with even a good bottom breakout.

2. The stock can be added Buy on DIPS after this correction

3. 280-300 is the price range to start adding , with adding more on any DIP .

Trade active:
Updating -
As expected the results didn't came out good . lower profit lower revenue .
Price went below 300

Start adding below 300 and accumulate till next result .
Trade closed manually:
EXITED All holdings of LXCHEM . not adding any further .
Too many companies with much better perspective and long term future to get good swings and remain invested.
Just money cycle thing , may get pumped for short term gains to promotors , but this small dividend thing even after bad profits and low gains is a negative sign for me.
Dividends to attract buyers and news based price push policy is never good for any share.
further the company should better use its money to clear debts and do capex rather than provide insignificant dividends .

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