Fundamentals:
Company PE- 3 < Industry PE -15.6, FII increasing its stake quaterly since jun2021(0.32 to 0.67 to 1.02 to 2.54), DII too increasing stake since sep 2021(0.48 to 0.51 to 0.62), almost Debt free with 74.99 promoters holding.
Technicals:
Forming cup & handle pattern , cup is perfectly formed n now it is at channel bottom getting ready to form handle. If we take only handle formation target it is almost double from current level(1750). Currently at a level for perfect entry with good Risk Reward.
Once handle is formed and breaks out 1st target comes around 3500-3600(approximately, as handle is not formed and taken hypothetical handle breakout target), and 2nd big target is cups depth which comes around 7000level, where it would also touch channel's top. As per previous time analysis time horizon could be 2-3 years.
Company PE- 3 < Industry PE -15.6, FII increasing its stake quaterly since jun2021(0.32 to 0.67 to 1.02 to 2.54), DII too increasing stake since sep 2021(0.48 to 0.51 to 0.62), almost Debt free with 74.99 promoters holding.
Technicals:
Forming cup & handle pattern , cup is perfectly formed n now it is at channel bottom getting ready to form handle. If we take only handle formation target it is almost double from current level(1750). Currently at a level for perfect entry with good Risk Reward.
Once handle is formed and breaks out 1st target comes around 3500-3600(approximately, as handle is not formed and taken hypothetical handle breakout target), and 2nd big target is cups depth which comes around 7000level, where it would also touch channel's top. As per previous time analysis time horizon could be 2-3 years.