🔸 *Trend*: Multi‑timeframe technicals signal **Strong Buy** (Daily/Weekly/Monthly) — EMA50 & EMA200 providing support :contentReference[oaicite:29]{index=29}.
🔸 *Momentum*: RSI ~77 (overbought), MACD/ADX/CCI bullish — short‑term pullback possible, trend intact :contentReference[oaicite:30]{index=30}.
🔸 *Volume*: Watch for decisive break above ₹4,600 on strong volumes (recent breakout to ₹4,596).
🔸 *Supports*: ₹4,012 (EMA50), ₹3,524 (EMA200).
🔸 *Targets*: : Initial ₹5,000–5,100 (near recent highs), then extension to ₹5,500+ if breakout sustains.
🔸 *Fundamentals*: Debt‑free, ROE 42%, ROCE 56%, EPS ₹136.6, P/E ~32× (higher than avg, growth priced in) :contentReference[oaicite:31]{index=31}.
🔸 *Risks*: Valuation premium vs historical P/E (~21), high RSI may signal short-term consolidation.
📌 *Strategy*:
– Long only above ₹4,600 break with volume
– SL near EMA50 (~₹4,000) or modified to trend-following
– Targets: ₹5,000 → ₹5,500
Technically: Strong bullish trend, high momentum, but overbought—watch for volume-protected breakouts.
Fundamentally: Robust growth, high returns, clean balance sheet—valuation premium justified by performance.
⚠️ Disclaimer
This publication is for educational and informational purposes only, and not financial or trading advice. It does not constitute a recommendation to buy, sell, or hold any security. Past performance is not indicative of future results .
Trading and technical analysis involve risk, and loss of capital can occur. Always perform your own analysis, apply proper risk management, and consult with a qualified financial advisor as needed.
🔸 *Momentum*: RSI ~77 (overbought), MACD/ADX/CCI bullish — short‑term pullback possible, trend intact :contentReference[oaicite:30]{index=30}.
🔸 *Volume*: Watch for decisive break above ₹4,600 on strong volumes (recent breakout to ₹4,596).
🔸 *Supports*: ₹4,012 (EMA50), ₹3,524 (EMA200).
🔸 *Targets*: : Initial ₹5,000–5,100 (near recent highs), then extension to ₹5,500+ if breakout sustains.
🔸 *Fundamentals*: Debt‑free, ROE 42%, ROCE 56%, EPS ₹136.6, P/E ~32× (higher than avg, growth priced in) :contentReference[oaicite:31]{index=31}.
🔸 *Risks*: Valuation premium vs historical P/E (~21), high RSI may signal short-term consolidation.
📌 *Strategy*:
– Long only above ₹4,600 break with volume
– SL near EMA50 (~₹4,000) or modified to trend-following
– Targets: ₹5,000 → ₹5,500
Technically: Strong bullish trend, high momentum, but overbought—watch for volume-protected breakouts.
Fundamentally: Robust growth, high returns, clean balance sheet—valuation premium justified by performance.
⚠️ Disclaimer
This publication is for educational and informational purposes only, and not financial or trading advice. It does not constitute a recommendation to buy, sell, or hold any security. Past performance is not indicative of future results .
Trading and technical analysis involve risk, and loss of capital can occur. Always perform your own analysis, apply proper risk management, and consult with a qualified financial advisor as needed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.