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
1) Sufficient Reserves with borrowings (debt) coming down drastically and low percentage of stocks pledged
2) Stellar Q4 results posted :
3) Strong macro factor to support growth and expansion with Tyremakers in India line up aggressive capacity expansion plans
4) The stock has stakeholding of known investors like Dolly Khanna, DIIs increasing stake in march.18
Technical factors given in chart..
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..
Would prefer to enter at approproate price levels around support
The scrip can be shown moving in ascending triangle pattern