Fundamentals:
* ROCE - 15.6%, ROE - 12.5%. Debt to Equity - 0.29
* EPS / Revenue - has been steadily increasing
* FIIs - Have increased stake this quarter from 6.69% to 7.64%
* Retail holding levels have gone down
* Promoter holding has remained steady
* Mutual Funds have increased stake
Technicals:
* Price is bouncing from a historical support zone which was earlier a resistance zone
* Only concern is that the bounce from support zone has been traditionally sharper than present bounce
* This warrants a cautious entry strategy with gradual exposure
* Tight entry can be taken considering candles are small and surfing the 10 / 20 DMA
* Weekly charts are not indicating anything significant
* Price is just below the 50% retracement and requires good volume to push through
* RS is strong / Momentum can pick up / ADR is 6.6% and increasing
I published this chart so that it can be kept in radar. At this point in time I don't think this is lining up for fast moves.
Note - Entry / SL / Target / Position size - Please figure out on your own based on risk appetite
Disclaimer - Your money requires your due diligence! I merely analyze and bring out probabilities. All the best.
* ROCE - 15.6%, ROE - 12.5%. Debt to Equity - 0.29
* EPS / Revenue - has been steadily increasing
* FIIs - Have increased stake this quarter from 6.69% to 7.64%
* Retail holding levels have gone down
* Promoter holding has remained steady
* Mutual Funds have increased stake
Technicals:
* Price is bouncing from a historical support zone which was earlier a resistance zone
* Only concern is that the bounce from support zone has been traditionally sharper than present bounce
* This warrants a cautious entry strategy with gradual exposure
* Tight entry can be taken considering candles are small and surfing the 10 / 20 DMA
* Weekly charts are not indicating anything significant
* Price is just below the 50% retracement and requires good volume to push through
* RS is strong / Momentum can pick up / ADR is 6.6% and increasing
I published this chart so that it can be kept in radar. At this point in time I don't think this is lining up for fast moves.
Note - Entry / SL / Target / Position size - Please figure out on your own based on risk appetite
Disclaimer - Your money requires your due diligence! I merely analyze and bring out probabilities. All the best.
Trade closed manually
Closing due to time stop loss
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.