amankavi
Long

NOCIL - Investment buy on dips

NSE:NOCIL   NOCIL LTD
Scrip price action can be seen taking a pullback after almost bearish bat pattern (although coordinates arent perfect)

Expecting the scrip to surpass 52-week highs this time after reversal owing to its strong fundamentals and growth chart.

Noticing the current price action, The scrip is being pulled back due to Nifty midcap taking a hit during past few sessions. Would plan to buy on dips near support levels

Pros:
1) Sufficient Reserves with borrowings (debt) coming down drastically and low percentage of stocks pledged
2) Stellar Q4 results posted :
http://forum.valuepickr.com/uploads/defa...
3) Strong macro factor to support growth and expansion with Tyremakers in India line up aggressive capacity expansion plans
http://www.business-standard.com/article...
4) The stock has stakeholding of known investors like Dolly Khanna, DIIs increasing stake in march.18
https://www.valueresearchonline.com/stoc...

Technical factors given in chart..

Cons:
1) Couldnt see much cons..

One can invest as long term investors should show conviction in the largest rubber chemical company aiming for 52-week highs or higher..
Comment: Coming in the direction as envisaged :)

Would prefer to enter at approproate price levels around support

Trade active: Having invested at dips after company posted good progressive Q1 results - https://www.indiainfoline.com/article/eq...

The scrip can be shown moving in ascending triangle pattern
https://in.tradingview.com/chart/Zwmd86d...
Comment:
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