Investment Pick (1-3 Year apx)
Aban Offshore Ltd (CMP-51.5)
Multibagger in Formation
We are highly bullish on OMC Sector and this is somewhere related to that.
(OMC = Oil Marketing Companies)
It’s a penny share and has fallen 99% from its all time high (5200 to 52)
Completely a contra bet (Reversal expected from here as per TIME CYCLES ⌛)
Fundamental...
ABAN offshore is coming out from a two year bottom in the form of a cup and handle formation on the weekly chart. The weekly chart exhibits good volumes at the breakout zone of 36. Time to start building long positions with Fibonacci extension targets of 52/76 in the medium term.
