The Stock broke out a resistance with good after a prolonged downtrend and hence indicated a sign of reversal to uptrend. The Stock is very well placed on charts and looks very positive technically. The stock broke out a Pattern on daily today and is ready for higher targets.
The Company is fundamentally very sound. The Company has been gaining FPI interest continuously and they have increased their stake from 26.79%in June, 2020 to 28.47% in March 2021. Mutual Fund also has an stake of 3.53% in the Company. The Company has recently posted excellent numbers for last quarter of FY 21.
Considering all fundamentals and technicals, the stock is perfect counter to be traded.
For Targets & SL refer chart.
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