📌 Levels are mentioned on chart for ❝Swing trading❞. The stock has shown all time high volume along with the breakout from flag pattern .
📌 Rossell India is one of the best performing companies. It has two divisions -- Tea and Aerospace & Defence (Engineering, Manufacturing and Services). The company is 27 years old in the tea business, with tea estates mostly in Assam, and has done many acquisitions till date. The quality of their tea estate is also much better, if compared with other tea estates in India. And this is the reason their stocks are performing really good!
📌 Rossell India is a diversified company with two other divisions - aerospace and defence. And in both these divisions, it is doing extremely well. The company’s fundamentals are really good.
📌 The stocks are trading at a PE multiple of 11. For the past three years, the sales growth has been at 23-24 per cent, which is impressive. And the profit growth is 95 per cent for the past three years. Similarly, the profit growth for the past five years is 46-47 per cent. The profits for the June, September and December FY20 quarters were robust.
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Lot of accumulation happening at this price. Price may take off soon!
good find but so far even 5 min candle is not able to close above BO..inverted hammer formed before anything good could happen..but looking at volumes it will come back harder..
raavigeorgian
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@Maverick_777, The price compression on such a huge volume is probably a good sign. David Weiss likes to call it 'absorption volume.' Price tends to shoot up rapidly (even on low vol) once the absorption is over.