1. Fundamentals:
a. Chennai based company with global presence in 4 continents and more than 20 countries.
b. History of more than 90 years with workforce of more than 2,000.
c. A leading pure water technology.
d. Strong Order Book at Rs. 6500 Crores in Bangladesh which is 2.6 times its annual revenue. Total outstanding orders worth 12,500 crores. Orders worth Rs. 730 crores were received only in the last quarter.
e. Reduced Debt and Working Capital Requirement.
f. EBITDA of 10% expected in 2024, as compared to 8.8% at present.
2. Technical:
a. Reached a high 0f 540 per share and at present trading at 460 per share.
b. Completed its Elliot Wave cycle of 1 to 5 Wave and Counter Waves of ABC and it is just the beginning of new cycle of Elliot Waves.
c. In the last to last trading day i.e. 14 Sept 2023 made a pin bar with a low of 451 and on the last trading day closed at 460 in green which is above the high of 3rd Elliot wave of previous cycle (as per daily chart)
d. Last closing of 460 is just above narrow CPR. 463 is immediate resistance.
e. Levels to watch are 457, 463 and 467.
f. 18th September is going to be very important for the stock and if it remains in green higher levels to come in the next week.
Please don't try to open the market. Wait for the appropriate levels to come and execute your orders.
Disclaimer: I am not a SEBI Registered Analyst. It is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your financial losses or profits.
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