Rest in charts.
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above-200 which gives strength to ongoing momentum
2) Rebound from support levels where resistance has become support now
Aiming towards TP and beyond thereon after entry confirmation until the scrip substains above 83-85 levels
SL as per risk appetite
The scrip had dissapointed with somewhat declining Q2 results henceforth the fall.
Nonetheless, It is seen that company has potential to grow and recoup for previous result
Have added more on dips to result in lower average price at support levels..
Some pros which shows company is making improvement QoQ :
--> Finance cost declined by 16.3% yoy to Rs25.2cr. which hereby means that company has managed to reduce debt
--> PBT is on higher side QoQ basis.
--> Depreciation and amortisation expenses declined by 2.1% yoy to Rs101.3cr.
--> Employee benefit expenses declined by 24.9% yoy to Rs108.3cr due to rationalisation of manpower cost including structuring of salary and manpower.
Feel that once GST is streamlined, It would eventually result in company improving margins..