1. Management has been able to turn around things and the Q1 results have been encouraging with YoY growth of 30% on topline and 42% on EBITDA. (PAT growth lower due to higher tax and deferred tax)
2. Guidance has been given for 25 % topline growth.
3. Company has already contracted for maximum 45MT quantity to China (above which ADD gets invoked as per mgmt).
Based on the management commentary outlook and guidance, Supriya is poised to give a series of encouraging results....
Once 292 is breached, share price should go on to close a gap on daily charts around 319 before steadily climbing up the fibonacci levels as indicated in the chart. There is possibility of resistance at 400 - 405..
Targets being 335/386/436. Ideally, price should close above the current fib level of 272 for the uptrend to resume. Timeline for final target woud be till Q4 results get announced..Stoploss being trendline break in weekly charts
2. Guidance has been given for 25 % topline growth.
3. Company has already contracted for maximum 45MT quantity to China (above which ADD gets invoked as per mgmt).
Based on the management commentary outlook and guidance, Supriya is poised to give a series of encouraging results....
Once 292 is breached, share price should go on to close a gap on daily charts around 319 before steadily climbing up the fibonacci levels as indicated in the chart. There is possibility of resistance at 400 - 405..
Targets being 335/386/436. Ideally, price should close above the current fib level of 272 for the uptrend to resume. Timeline for final target woud be till Q4 results get announced..Stoploss being trendline break in weekly charts