Fundamentally Stock looks over valuated (288crs TTM Profits *20 times) 4560crs vs Market Cap 6,740crs
Even at 30x Market Cap should be around 6840crs
Technically Stock has shown Flag and Pole Breakout on Monthly chart.
Target - 870
Stoploss – 625 (Weekly Close)
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A Cup & Handle pattern has been formed and on its way to breakout level. Needs to break the resistance at 1130 which has been tested multiple time, once supported by volume the target can be achieved with no major resistance ahead.
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be...
Time frame 1 day.
There are no doubts about the fundamentals of this security but due to its poor quarterly results, the stock is falling for the last 3 days.
Today it fell nearly 6% and some institutional player has sold in large quantities as we can see in volume.
This seems to be in good valuation below 900 but at the same time, you can accumulate this stock...