PVR LTd
Multiple chart patterns (Double Bottom + Ascending Triangle Pattern + stock making HH & HL in the channel movement). The stock has retraced almost 61.8% from its lowest levels. This is a time to go long on this stock.
Target 1900 - July 2021
Target 2250 - Dec 2021
SL: 1225
Not going by the fundamentals as last year washed out the business for PVR. But movie theaters are going to start with full capacity in Maharashtra and rest of the country from 01 Feb 2021 as per guidelines issues by Central Gov. yesterday. With many big budget releases the PVR business will be back on track. This is probably one of the last industry left for getting back on track. Beaten down sectors will work with push for growth in the budget. Movie business is one such sector.
Multiple chart patterns (Double Bottom + Ascending Triangle Pattern + stock making HH & HL in the channel movement). The stock has retraced almost 61.8% from its lowest levels. This is a time to go long on this stock.
Target 1900 - July 2021
Target 2250 - Dec 2021
SL: 1225
Not going by the fundamentals as last year washed out the business for PVR. But movie theaters are going to start with full capacity in Maharashtra and rest of the country from 01 Feb 2021 as per guidelines issues by Central Gov. yesterday. With many big budget releases the PVR business will be back on track. This is probably one of the last industry left for getting back on track. Beaten down sectors will work with push for growth in the budget. Movie business is one such sector.