SOTL chart has broken out of a symmetrical triangle last week and an INHS pattern BO can also be observed. Tomorrow they are announcing Q1 earnings as well and this is a thinly traded stock so if taking position, be aware of these two points.
From the triangle pattern a target of 1442 can be projected to be achieved by 5th September 2022 and the INHS BO gives a projected target o 1515+
Stop loss may be kept at invalidation of the patterns by price coming back inside the pattern or 1198 as per individual risk appetite.
SOTL is in the transformer oils business. Although performances can vary, Apar Industries, a leader in transformer oils has already announced its Q1 results and one may also go through their segment presentation to form a view of results expectation from Savita.
From the triangle pattern a target of 1442 can be projected to be achieved by 5th September 2022 and the INHS BO gives a projected target o 1515+
Stop loss may be kept at invalidation of the patterns by price coming back inside the pattern or 1198 as per individual risk appetite.
SOTL is in the transformer oils business. Although performances can vary, Apar Industries, a leader in transformer oils has already announced its Q1 results and one may also go through their segment presentation to form a view of results expectation from Savita.
Trade closed: target reached