Anticipated Symmetrical Triangle Breakout - Tanla Platforms
Anticipated Symmetrical Triangle Breakout - Tanla Platforms
As seen in the charts, Tanla platforms is on the verge of making/breaking out of the symmetrical triangle pattern that has formed from the start of Jan 2022 up until now.
I expect a breakout on the bullish side for the below reasons
Attractive Fundamentals
- Low to Nil debt - Debt to Equity < 0.05, ICR is 100+
- P/E is 22.45 , significantly less than Industry P/E of 37.52
- PEG ratio is 0.26, extremely good
- ROE,ROCE is 30+
- Sales growth of 16% , and sales growth for 5yrs is 31%
- Profit growth is 15%, and profit growth for 5yrs is 86%
Easily beats most medium and small cap IT companies
Technicals
- CMP 925
- Slightly less than EMA9, EMA21, EMA63 and EMA 200> Everything between 935 and 950
- Anticipating future breakout from these levels +/- 5%
Wait for slightly lesser price around 900-910 and RSI around 35-40
Disclosure : Not SEBI registered. Views are for educational purposes only.
As seen in the charts, Tanla platforms is on the verge of making/breaking out of the symmetrical triangle pattern that has formed from the start of Jan 2022 up until now.
I expect a breakout on the bullish side for the below reasons
Attractive Fundamentals
- Low to Nil debt - Debt to Equity < 0.05, ICR is 100+
- P/E is 22.45 , significantly less than Industry P/E of 37.52
- PEG ratio is 0.26, extremely good
- ROE,ROCE is 30+
- Sales growth of 16% , and sales growth for 5yrs is 31%
- Profit growth is 15%, and profit growth for 5yrs is 86%
Easily beats most medium and small cap IT companies
Technicals
- CMP 925
- Slightly less than EMA9, EMA21, EMA63 and EMA 200> Everything between 935 and 950
- Anticipating future breakout from these levels +/- 5%
Wait for slightly lesser price around 900-910 and RSI around 35-40
Disclosure : Not SEBI registered. Views are for educational purposes only.
Note
Tanla Below 900, RSI 40+. Will wait for better entry Note
Double bottom at 890. Note
Positive Breakout. Tanla now at 960+ Trade active
Tanla providing another good entry point. 
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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.