mastermukund4

Multi Year Breakout - Retesting Done (Flat Base Formation)

Long
NSE:SOTL   SAVITA OIL TECHNOL
Savita Oil Tech is involved in the business activities of Production of liquid and gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum or bituminous minerals.

The Stock broke out a multi year resistance with excellent volumes. The stock retraced back to re-test its breakout levels, took support of 50 DMA and bouncing back for new targets. RSI is at perfect levels. The volume is rising from last two weeks.

The company is debt free and has a strong balance sheet . The company has posted an increase in EPS of 52% & 278% YoY in the September & December quarter of FY 21 respectively.

Accumulate for targets of 1200-1300 with SL at 990. Long Term Target 1500.

Feel free to share your feedback and queries.